TPG Growth and Satya Capital Announce African Investment Partnership

TPG Growth, the global middle market and growth equity platform of TPG, and Satya Capital Limited (Satya), with its founding chairman Mo Ibrahim, yesterday announced the establishment of a formal partnership focused on new investments in Africa.

The relationship will bring together the global strength and resources of TPG’s investment platform, and the regional expertise and relationships of Satya and Ibrahim, to identify and invest in African companies looking to expand both in Africa and globally.

TPG Growth is a market leader in emerging markets investing. Its experienced investment professionals and global operations team have built successful and distinctive businesses around the world in countries such as Vietnam, Myanmar, India and Brazil.

Ibrahim and Satya bring deep regional expertise, relationships and on-the-ground experience.

Operationally, Satya offers a solid understanding of the continent’s unique challenges and opportunities for expansion.

Ibrahim is a renowned African business leader and his work, both in business and through his foundation, is helping to transform Africa.

The firms will focus on investments in a broad range of industries including healthcare, TMT, consumer and financial services. Together they will look for companies and entrepreneurs that want investment partners who understand their challenges and opportunities on a local and global level, and who are focused on partnering closely to help them grow.

Ibrahim said: “I am very excited that we have found such a great partner in TPG. The dynamic combination of talent and experience of TPG and Satya has the potential to change the scope of investment across the continent.

“The African economy is just starting to realise its potential, and there are businesses and entrepreneurs across the continent that will thrive with the right operational support and access to global markets. I believe this partnership will give African entrepreneurs a very powerful platform.”

The co-founder of TPG, David Bonderman, said: “TPG was an early and successful investor in both Asia and Latin America and, working with Mo and Satya, we believe now is the time to recreate that same success in Africa. We look forward to identifying and supporting growing African businesses to meet the increasing demand from consumers on the continent and beyond.”

Bill McGlashan, founder and managing partner for TPG Growth, said: “We are thrilled to partner with Mo Ibrahim and Satya in Africa. Mo is a visionary leader, entrepreneur, and social activist who, along with Satya, are the perfect partners for TPG Growth’s integrated global team as we look for entrepreneurs and companies where we can be a unique partner in driving growth. Whether in San Francisco, Myanmar, or Nairobi - the companies we invest in all get the same operational support and focus. We don’t believe in local funds, but rather the marriage of the best in local and global, so it is very exciting for us to combine the capabilities of Mo Ibrahim and Satya with our global platform, and to be part of Mo’s vision for Africa.”

The managing partner of Satya, Tsega Gebreyes, said: “The new African narrative is driven by a transitioning landscape with increasingly stable political climates, improving infrastructure, growing economic power, adoption of innovative technology and urbanisation. These positive trends are fueling consumption across multiple new and emerging sectors, which are untapped and prime for investment and development. We look forward to working with TPG Growth to identify those business leaders doing exciting things in these sectors and innovating within them, and then partnering on a strategy – both local and global – to help them grow. Ultimately it is innovation and entrepreneurism that will push Africa to a more prominent position within the global economy, and with this partnership, we look forward to helping drive that change.”