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Coors-Led African Buyout Fund in Talks From Kenya to Nigeria

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March 19 (Bloomberg) -- One Thousand & One Voices LLC, an Africa-focused private-equity fund, said it’s in talks about investing in two Nigerian companies and another in Kenya.

In Nigeria, “one is a purely consumer-facing opportunity the other is also in the manufacturing space with a consumer theme to it,” Hendrik Jordaan, president and chief executive officer of the fund, said in an interview today. “The companies we’re looking at are all private.”

One Thousand & One Voices, started by John Coors, the great grandson of Coors Brewing Co.’s founder, is hunting for private-equity investments that tap Africa’s growing consumer markets. The fund, which hired former TPG Capital partner Dag Skattum, has received commitments from more than 15 of the world’s richest families since starting last May and expects to meet a goal of raising $300 million by December, Jordaan said.

“We have sufficient capital from over 15 families that allows us to close on all the transactions in our pipeline,” Jordaan said in Lagos, Nigeria’s commercial capital, adding that the fund is also in talks with potential family investors in Latin America, Southeast Asia and Africa. “I’m going to be in London and Paris later this week, meeting with leading families in those geographies.”

Fund Families

The fund is in talks with wealthy Nigerian families, said Jordaan, who declined to be more specific. Since November one South African family has joined the fund, he said.

One Thousand & One Voices will probably lead a delegation of families to the World Economic Forum’s conference in Nigeria’s capital, Abuja in May, Jordaan said.

The fund, which expects to close at least one deal in southern Africa in the second quarter of this year, said today that Skattum, 53, will be the firm’s London-based managing director. It also hired Kate Matheny, 45, as chief financial officer, based in Denver, according to a statement from the fund. She held the same position at KRG Capital, the fund said.

To contact the reporters on this story: Renee Bonorchis in Johannesburg at rbonorchis@bloomberg.net; Chris Kay in Lagos at ckay5@bloomberg.net

To contact the editors responsible for this story: Dale Crofts at dcrofts@bloomberg.net Dylan Griffiths, Steve Bailey

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