African Capital Investments announced in July 2017 a strategic collaboration with Barak Fund Management (“Barak”), an African focused asset manager, founded by Jean Craven and Prieur Du Plessis, with six funds and a collective AUM in excess of US$650 million.
The purpose of the collaboration, which involves ACI and Barak co-locating in their respective offices in London and Johannesburg, is to co-operate on projects where each team’s expertise can be leveraged to offer a wider suite of services to their respective clients.
Barak, having established its success in Africa in short-term trade finance since early 2009, has seen a natural progression to the longer-term asset-backed lending space to fill the gap left by Africa’s commercial banks, who lack the risk appetite or flexibility to lend capital to fast growing local corporates.
ACI have been exploring mandates that either have or would benefit from a fixed income component in the overall deal structure.
The opportunity exists to combine Barak’s lending expertise and ACI’s equity expertise to create a broader service offering ranging from trade finance & lending through to corporate advisory, structuring and M&A.
The company has a portfolio of six funds under management with an AUM in excess of US$650 million, providing fund management solutions to a range of global investors and funding to an extensive list of counterparties throughout sub-Saharan Africa.
Barak is domiciled in Mauritius with a presence in South Africa, the United Kingdom, Kenya and Ivory Coast.