Carlyle Founders, Billionaire Dangote Back New African PE Fund
- Carlyle spin off Alterra closed first round at $140 million
- Alterra targets as much as $500 million for Africa investments
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A team spun out of Carlyle Group Inc. said they’ve got backing from the founders of the US private equity firm as well as 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. The PE firm plans to raise as much as $500 million in the coming months and has garnered $140 million in its first closing, she said.