Alterra Capital Acquires Majority Stake in ARP as Tourism Surges
TLDR
- Alterra Capital Partners has acquired a majority stake in ARP Africa Travel Ltd., one of East Africa’s largest destination travel operators
- The private equity firm, formed by former Carlyle Group executives in 2023, is acquiring the stake from the Moledina family
- Alterra’s investment signals strong confidence in Africa’s tourism recovery, as international arrivals surged by 74 million in 2024
Alterra Capital Partners has acquired a majority stake in ARP Africa Travel Ltd., one of East Africa’s largest destination travel operators, as it bets on the growth of Africa’s tourism sector.
The private equity firm, formed by former Carlyle Group executives in 2023, is acquiring the stake from the Moledina family, which will continue managing the business. ARP operates a fleet of over 300 vehicles with 200+ guides providing luxury and experiential travel across Kenya, Rwanda, Uganda, South Africa, and Victoria Falls through partnerships.
Alterra’s investment signals strong confidence in Africa’s tourism recovery, as international arrivals surged by 74 million in 2024, according to the UN World Tourism Organization. Kenya alone expects 3 million visitors in 2025, driven by growing demand for safari, conservation, and cultural experiences.
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Key Takeaways
Alterra, which has already invested in Chill Beverages and Java House, plans to expand ARP’s footprint in Nordic, Middle Eastern, and Asian markets over the next 12 to 18 months. The fund, backed by Carlyle founders David Rubenstein and Bill Conway, as well as Nigerian billionaire Aliko Dangote, is targeting a $400 million final close by September. Africa’s tourism sector is attracting significant investor interest, with governments prioritizing infrastructure and technology improving travel accessibility. ARP’s growth strategy includes acquisitions, and with strong backing from private equity, it is well-positioned to capitalize on the continent’s booming travel market.
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