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  Carlyle Group & Dangote form strategic partnership

The Carlyle Group, a global alternative asset manager, and Dangote Industries Limited (DIL), a diversified business conglomerate in Africa, announced a strategic partnership to invest in Sub-Saharan Africa, in July. The partnership will invest across the energy value chain including exploration and production, refining, logistics and infrastructure and will initially be capitalized at $1 billion.

The partnership will seek to invest in and develop projects that enhance local capacity, create jobs and contribute to a sustainable energy future in Africa. Carlyle and DIL will also invest in consumer, financial services and agribusiness sectors, which are building blocks of the African economy.

Commenting on this development, Carlyle Co-CEO, David M. Rubenstein said: “We are proud and excited to deepen our relationship with Aliko Dangote, President and CEO of DIL, who is already an anchor investor in our Sub-Saharan fund. Aliko is a pioneer in the African business community, with the depth of vision and commitment that will better enable Carlyle to find and create choice investment opportunities in Sub-Saharan Africa and contribute to economic development on the continent.”

Similarly, Mr. Dangote said: “Carlyle brings ability and capital to a continent and people who thirst for opportunity and progress. David Rubenstein and his partners have a proven track record of value creation around the globe that can benefit growing businesses across Africa. Carlyle was the first global private equity firm to create a dedicated fund and team to pursue opportunities in Africa and I am proud to partner with this globally recognized investment leader.”

In 2012, Carlyle became the first global alternative investment firm to establish a presence and launch an investment fund in Sub-Saharan Africa. It has $203billion of assets under management and its purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions.


Publication date is 8/6/2014



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