Carlyle founders back new African PE fund

The PE firm plans to raise US$500mil in the coming months and has garnered US$140mil in its first closing, said Alterra's Sangudi said. — Reuters

LAGOS: A team spun out of Carlyle Group Inc says it’s got backing from the founders of the US private equity (PE) firm and Nigerian billionaire Aliko Dangote for a new Africa-focused fund.

Carlyle co-founders David Rubenstein and Bill Conway are among investors in the Alterra Capital Partners fund, partner Genevieve Sangudi said.