Sango Capital has acquired a majority of the Limited Partner interests in Synergy Private Equity. 

Synergy Managers (Mauritius) Limited will continue as the General Partner (GP) of the Fund, whilst Sango will support the GP in value creation- and liquidity initiatives.

“This first transaction of its kind in Africa forms part of Sango’s strategy to provide innovative investment solutions to investors in African private equity. We remain active across the full life cycle of private equity funds, which includes primary commitments, secondary fund purchases, and end-of-life and tail-end fund solutions. We are particularly pleased that the transaction we have just concluded has been achieved with the collaboration of the majority of the Fund’s investors as well as the GP, who collectively recognize the value of consolidating LP interests in the Fund,” said Richard Okello, founding Partner of Sango. 

“This transaction is a testament to the strong partnerships that we have built over time.” 

Christian Roelofse, Director at Sango who leads the special situations & portfolio solutions business, added that “The African Private Equity ecosystem is in need of alternative liquidity solutions and Sango is well placed to partner with GPs and LPs alike to address portfolio needs.”

Sango has been a Limited Partner in the Fund since it launched in 2014 and also made one co-investment with the Fund in 2015. “Whilst most of the portfolio companies are in active exit or liquidation mode, some of the investments still have value creation potential,” said Roelofse.

Ayodele Arogbo, Partner at Synergy, commented: “We are pleased that this transaction has now closed, as it enables the GP to work with a streamlined group of LPs at this critical stage in the life of the fund. The additional support in value creation and access to liquidity will be of immense benefit as we work towards the exit and liquidation of the assets remaining in the portfolio.”