European DFIs Back $250M African Private Credit Fund
TLDR
- BluePeak Private Capital aims to raise $250 million for its Africa-focused private credit fund, with $80 million already secured in a first close
- Investors include British International Investment (BII), FMO, Swedfund, and the Swiss Investment Fund for Emerging Markets
- The fund targets mid-sized African companies typically underserved by banks, offering non-dilutive growth capital through private debt
BluePeak Private Capital aims to raise $250 million for its Africa-focused private credit fund, with $80 million already secured in a first close backed by European development finance institutions. Investors include British International Investment (BII), FMO, Swedfund, and the Swiss Investment Fund for Emerging Markets.
The fund targets mid-sized African companies typically underserved by banks, offering non-dilutive growth capital through private debt. Initial investments will range from $10 million to $20 million, focusing on defensive sectors like agribusiness, manufacturing, and healthcare.
“We are seeing more interest in the market,” said Jo Fry, investment director at BII. “Private credit funds are filling a gap for mid-market firms seeking flexible growth capital.” BluePeak’s co-founder, Walid Cherif said the fund expects to announce its first deal within a month. With global aid shifting inward, especially from the U.S., which is pulling back $555 million from the African Development Bank, development finance institutions see private credit as a vital financing tool for African growth.
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Points clés à retenir
As African banks face growing constraints, private credit is becoming a crucial source of capital for mid-sized businesses. According to the International Finance Corporation, African firms face a funding gap of $330 billion annually, with most of that concentrated in the SME and mid-market segment. Private credit provides a viable alternative to equity, enabling businesses to scale without diluting ownership. Globally, private credit has grown into a $1.6 trillion asset class, with major firms like KKR and Blackstone expanding their footprint. In Africa, interest is accelerating as fund managers target stable, cash-generating industries and prioritize downside protection. BluePeak’s strategy reflects broader trends—replacing retreating donor support with sustainable private capital, while anchoring investments in essential sectors. The firm's fund is one of several signaling a maturing African private debt market that could reshape financing for growing companies on the continent.
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