Metier is a leading South African based private equity fund manager with a long and successful track record dating back three decades to the origin of private equity in South Africa. Approximately R6.2 billion has been invested by the Metier team (at historical cost) in over 82 transactions.
Metier’s investment strategy builds on the Southern African investment case which shows attractive growth and development features in a relatively mature environment for private equity investment. The Metier Capital Growth Fund II completed its first close in mid-February 2015 and further closings in 2016, raising in excess of R2.5 billion with further commitments expected.
The fund’s investment theme is premised on obtaining significant exposure to South, Southern and Sub-Saharan Africa. It concentrates on mid-cap entrepreneurial businesses requiring growth capital, in sectors which demonstrate emerging market growth potential.
The first closing is with investors that Metier has had prior relationships with. They include South African institutional investors and international investors Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO, the Dutch development bank) and Germany’s DEG (Deutsche Investitions und Entwicklungsgesellschaft mbH). Investors part of the second closing include the International Finance Corporation, Porparco (a subsidiary of the French Development Agency (AFD)), frontier market investor Sarona and Averroès Finance III, a fund sponsored by Proparco and Bpifrance, the French public investment bank. The South African based investors include institutional investors such as Investment Solutions, MMI Group Limited, local pension funds and asset managers. The Metier team has also made its own material financial commitments to the fund.