The Advanced Finance & Investment Group (AFIG Funds) has announced the promotion of Stéphane Le Bouder to Managing Director.

Le Bouder, who joined AFIG Funds in 2013, brings a wide-ranging experience to the Managing Director role.

“It is a true privilege to be a member of a team with such diverse backgrounds and skills, and to be offered an opportunity to play a leadership role as AFIG Funds continues to build on its solid foundation,” said Le Bouder.

“As Africa’s middle class continues to grow, and its markets mature, we believe that our tested approach to value-added investing and active engagement with portfolio companies to build regional champions will continue to yield strong returns for our investors,” he added.

Before joining AFIG Funds, Le Bouder served as Deputy Assistant Secretary for International Affairs at the US Treasury Department in Washington D.C.

An Obama Administration appointee, he worked with senior Treasury and White House officials to advance the Administration’s international financial and development agenda.

Prior to that, he worked for the US Congress as Staff Director for the House Financial Services Subcommittee on International Monetary Policy and Trade, and was a senior staffer involved in drafting the Dodd-Frank Wall Street Reform Act.

Born in the Central African Republic, Mr. Le Bouder holds a BA and MA in Economics from McGill University, and an MBA from Harvard Business School.

Papa Madiaw Ndiaye, CEO of AFIG Funds, said: “Stéphane’s contribution since joining AFIG Funds has been important in laying the foundation for our continued success and growth. Our hands-on approach to investing requires the capacity to actively engage with portfolio companies.”

“Through his work at AFIG Funds, Stéphane has demonstrated his capacity to accurately assess and manage risk in an increasingly volatile environment and provide the internal and external leadership required to be successful in a rapidly evolving African PE market,” he added.

AFIG Funds is headquartered in Dakar, Senegal, and is the manager of the Atlantic Coast Regional Fund (ACRF), a $122m growth and expansion fund with investments across West, Central and East Africa.

ACRF considers investments in all sectors, targeting strong growth companies, preferably with a regional scope. Investors include leaders in emerging markets investing with long, established track records.

AFIG Funds is currently raising its second fund, which will build on the proven strategy of ACRF.