Actis Capital LLP, a private equity firm focused on investments in emerging markets, has sold a 9% stake in South Africa-based Alexander Forbes Group Holdings Limited, representing a large part of its total 13% stake.
The sell will see Actis substantially exit Alexander Forbes whose 2007 $1.2 billion buyout it led, in one of the largest and most complex leveraged buyouts ever undertaken in Africa.
However, Actis will fully exit Alexander Forbes when Mercer Africa Limited completes its acquisition of 34 percent of the pension manager. Mercer is initially acquiring a 14.9 percent stake, at the time of the Alexander Forbes listing, and subject to regulatory approvals, will acquire a further 19.1 percent stake; leading to a full exit for Actis and other private equity consortium members who collectively hold 54 percent of the group pre-listing.
Mercer Africa Limited, a wholly owned subsidiary of Marsh & McLennan Companies with major interests in talent, health, retirement, and investments, sees the acquisition as an opportunity to broaden its exposure in sub-Saharan African markets.
Tags: Private Equity, Private Equity Firm, Private Equity Group, Private Equity Company, Private Equity Fund, Private Equity Investment, Private Equity Investor, Fund of Fund, Private Equity Business, Private Equity Industry, PE, Actis, Actis Capital LLP, Alexander Forbes, South Africa, Alexander Forbes Group Holdings Limited, Mercer Africa Limited, Marsh & McLennan Companies.