“The investment fits FMO’s strategy, deepening a relationship with an existing partner in African private equity investing and contributes further to FMO’s ambition of being a preferred partner for growth in emerging markets,” FMO said.
Established in 2007, Development Partners International now manages US$1.1 billion in assets under management (AUM) and has invested in 20 portfolio companies across its two funds, ADP I, and its successor fund, African Development Partners II (ADP II).
DPI also has a dedicated Portfolio Management team that works closely with the management’s teams of its investees.
ADP III will contribute to the creation of value within its investees and the positive impact they have on their local communities, creating more jobs and increasing government tax revenues as well as broadly fostering regional economic integration.
According to FMO, DPI has a strong environment and social management system in place: “DPI also has an experienced and dedicated ESG manager in its team. DPI undertakes rigorous ESG due diligence during its investment process and creates ESG action plans for its portfolio companies to align them with the IFC Environmental and Social Performance Standards”.