FORMER African Development Bank president Donald Kaberuka joined TPG/Satya, a partnership between TPG Growth LLC and Satya Capital LLP, as a senior adviser, the company said.
“Mr. Kaberuka will provide counsel and insight on investment opportunities on the continent,” TPG/Satya said in a statement e-mailed Wednesday from San Francisco.
“He has a deeply held optimism about Africa’s future and the role of private investment in unlocking that opportunity.”
Kaberuka’s appointment comes six months after TPG said it plans to invest in health care, consumer and financial-services businesses in Africa with Satya. The partnership made its first investment in September in Ecoles Yassamine, a chain of private schools in Morocco.
TPG Growth is part of TPG, the Fort Worth, Texas and San Francisco, California-based investment company that has more than $70 billion of assets under management.
TPG Growth specialises in emerging markets and has more than $7 billion in assets under management. Satya, which provides capital to African businesses, was founded by Mo Ibrahim, a Sudanese-born billionaire philanthropist who founded Celtel International BV. It targets investments of $20 million to $150 million, according to the statement.
TPG Growth announced separately Thursday it bought a 28% stake in Asiri Hospital Holdings, a private health care business in Sri Lanka, from emerging markets private equity investor Actis LLP.
In September the Center for Public Leadership (CPL) at Harvard Kennedy School (HKS) announced that Kaberuka would join the Center for Public Leadership community as a Hauser Leader-in-Residence until next year.
Source; Mail Guardian Africa
