Milost Global, an Africa-focused private equity firm headquartered in New York, is launching a $1 billion SME fund in partnership with investment holding company Monnaie Africa. Isilo, as the General Partnership will be know, will be domiciled in Mauritius, with Milost holding a 70% interest in the firm.
Isilo Fund I will be a traditional 10-year, closed-end private equity fund, and will target buyout and restructuring opportunities in small and medium-sized enterprises on the continent. The fund’s investment strategy will be sector-agnostic, and it investment team will be located in Milost’s Johannesburg office.
“Within the African continent, Isilo Fund 1 will be one of a few properly resourced Private Equity Funds for the Small to Medium sized enterprises,” Milost Senior Partner Solly Asibey said. “SMEs and Microcap companies constitute a majority of a country’s economy and employment virtually worldwide, and this will enable us to reach out and add value to this market.”