Metier Private Equity is back on the fundraising trail – with plans to raise its third Africa-focused specialist vehicle that has been sized at $250 million.
The investor is on the road with Metier Capital Growth Fund III (MCGF3), which is targeting $250 million at final close. The lower limit for the fund has been set at $200 million.
Netherlands-based development financier FMO is working on plans to commit $30 million to the latest vehicle.
The target size of the latest vehicle is about 25% larger than the $200 million target size of Metier’s second fund, Metier Sustainable Capital Fund II (MSCI II).
FMO is backing the fund as a return LP, having committed $15 million to MSCI II in 2019.
Metier touched first close on MSCI II in 2020, attracting $116 million from seven LPs.
MCGF3 will invest in infrastructure and manufacturing deals across Sub-Saharan Africa, through equity, quasi-equity and equity-related Investments.
Paul Botha is chief executive officer at Metier.
Fund Card
| Fund Name | Metier Capital Growth Fund III (MCGF3) |
| Fund Manager | Metier Private Equity |
| Target ($) | $250m |
| Fund Size Class | Mid-Cap ($100m to $499m) |
| Target (Base Currency) | $250m |
| Hard Cap | n/d |
| Latest Fund Size | n/d |
| Final Close (Base Currency) | n/a |
| Year Closed | n/a |
| Latest Fund Event | LP Commitment |
| Latest Fund Update | LP Commitment |
| Interim Close(s) | n/d |
| Current LPs Profiles | Development finance institution |
| Current LPs Geographies | Europe |
| Current LPs & Amounts | FMO ($30m) |
| Cornerstone LP | Bespoke request |
| Structure | n/d |
| Fund Type | Private equity |
| Domicile | n/d |
| Fund Tenure | n/d |
| Deal Size Range | n/d |
| Sectors | n/d |
| Geographical Focus | Africa |
| Country Focus | n/d |
| Predecessor Fund | Metier Sustainable Capital Fund II |
| Predecessor Deals | See predecessor fund |
| Lead Fundraiser | Paul Botha, CEO (Metier) |
| Fund Legal Advisers | n/d |
| Other Advisers | Bespoke request |
| Fund Administrator | Bespoke request |
| Placement Agent | Bespoke request |
| Target Fund Returns | Bespoke request |
| Carry | Bespoke request |
| Hurdle | Bespoke request |
| Management Fees | Bespoke request |
| Related News Stories | Available shortly |
| Deals in Fund | n/a |
| Fund Exits | Bespoke request |
| Fund Contact | Paul Botha, CEO (Metier) |
| Notes |
|
| Fund status | Open |
| Fund Phase | Raising |
Source: Deal Book Africa
