At an excellent awards dinner in London this week, the winners of the Private Equity Africa awards 2013 were announced, from a hotly contested field. This is the second year for this series of awards, celebrating excellence in the increasingly competitive field of African private equity.
Here are the awards, as announced on Private Equity Africa’s very useful website:
Special Recognition: an individual award to Sev Vettivetpillai (Partner at Abraaj Group) for outstanding leadership.
House of the Year: South Africa – Capitalworks Investment Partners; North Africa – Abraaj Group; and Sub-Saharan – Standard Chartered PE. This recognises investment activity across various regions, with emphasis on deal-making, commitment, strategy, development and social impact.
Deal of the Year: Large Cap – GZ Industries by Standard Chartered and Ashmore; mid-cap – Nairobi Java House by Emerging Capital Partners; and small cap – Express Life Insurance by LeapFrog Investments. It was based on individual deals closed in 2012. The judges were looking for evidence of innovation, potential development and social impact, uniqueness and deal size.
Exit of the Year: Large cap exit – GZ Industries by Verod Capital; small cap exit: Golden Lay by Abraaj Group. Exits were judged by returns, innovativeness of exit, size of the deal, value added by investor, development and social impact, holding period and deal uniqueness.
Portfolio awards: innovation – InterSwitch by Helios & Adlevo; improvement – OK Zimbabwe by Investec Asset Management; development impact – Main One Cable by Africa Finance Corporation; social impact – All Life by LeapFrog Investments.
Advisor of the Year: Transaction services – Linklaters; Overall legal services – Clifford Chance. The judges were looking for evidence of commitment to the region, overall services provide volume and of services provided, and geographical reach.
Special recognition awards: Landmark deal – Carlyle, Standard Chartered & Pembani Remgro for Export Trading Group, the largest deal ever closed in East Africa. Industry game changer – Helios for innovation in large-cap deal-making across sub- Saharan Africa and for raising the largest Africa-focused fund. New frontiers deal – Duet Africa & Vasari for Dashen Breweries, one of the largest deals ever in Ethiopia, which is a new frontier country for private equity in Africa. Fund administration – Augentius for commitment to fund administration across Sub-Saharan Africa. Francophone commitment – Cauris Management for its commitment to Francophone Africa. Fund innovation – South Suez for creating an independent fund-of-fund for Sub Saharan Africa. Early-stage investing – XSML for commitment to early-stage investing in Central Africa. Innovative sector strategy – Phatisa for innovation in agriculture. These are for outstanding and exceptional achievements based on editorial, judges and nominee recommendations. The category focuses on historic achievements.
Nominees for house of the year were: Abraaj Group, Capitalworks Investment Partners, Phatisa, Standard Chartered PE, Investec Asset Management, LeapFrog Investments, Development Partners International, RMB Corvest, Ethos Private Equity
Nominees for deal of the year were: Large cap – Export Trading Group by Carlyle Group, Standard Chartered and Pembani Remgro; GZ Industries by Standard Chartered and Ashmore; Al Mokhtabar Medical Laboratories by Abraaj Group. Mid-cap deal nominees: Nairobi Java House by Emerging Capital Partners, Dashen Breweries by Duet Private Equity, ARM Cement/Athi River Mining by Africa Finance Corporation. Small cap deal nominees: Therapia Health Clinic by Abraaj Group; Express Life Insurance by Leapfrog Investments; BO’s Hire and Sales, by Imbewu Capital.
Nominees for exit of the year were: Large cap exit – GZ Industries by Verod Capital; MTN Nigeria by African Capital Alliance; Umeme by Actis. Small Cap Exit – Africert by Pearl Capital Partners; Petro Ivoire by Cauris Management & Tuninvest – Africinvest Group; Golden Lay by Abraaj Group.
Portfolio company award nominees: InterSwitch, by Helios & Adlevo Capital; OK Zimbabwe, by Investec Asset Management; Main One Cable, by Africa Finance Corporation; AllLife, by LeapFrog Investments; TAQA Arabia by Citadel Capital and Express Life Insurance by LeapFrog Investments.
Advisor award nominees: Clifford Chance, Linklaters, Webber Wentzel.
PEA 2013 AWARDS JUDGES
• Vivina Berla, Senior Partner, Sarona Asset Management
• Dushy Sivanithy, Principal, Pantheon Ventures
• Alex Wolf, Senior Associate, HarbourVest Partners
• Hans Holmen, Senior Consultant, Aon Hewitt
• Charles Rose, Chairman, Hainsford
• Edgar Miller, Managing Director, Palladian
• Luca Del Conte, Investment Professional, Exotix
• Jean-Luc Koffi Vovor, Founder, Kusuntu
Awards Chair: Gail Mwamba, Managing Editor, Private Equity Africa
Awards Director: Adeola Dosunmu, Head of Research, Private Equity Africa
Private Equity Advisor : Thomas Ferede, Independent Consultant
Legal Advisor: Aron Ambia, Independent Consultant.
London Business School Coller Institute of Private Equity also helped with the selection.
Congratulations to Gail and to Richard Tandoh, publisher of the excellent magazine and website Private Equity Africa for organizing and thank-you for inviting me. The Mayfair Hotel in central London (Mayfair) is highly recommended for its beautiful room and great food.
I much enjoyed moderating a panel on “Value Addition for a Succesful Exit” and thanks to my panel members: Andrew Brown, Partner at Emerging Capital Partners, Claus Eckbo, Operational Improvement Officer at LeapFrog investments, Danladi Verheijen, Managing Director of Verod Capital and Jean-Marc Savi de Tové, partner at Cauris Management for a very interesting and enlightening discussion on strategies to add most value.