Published: January 12, 2015
UK development finance institution appoints new managing director.
CDC, the UK development finance institution, has appointed Murray Grant managing director of its African Funds team. He will oversee the organisation’s investments in African private-equity funds.
After 13 years with private equity firm 3i, Grant joined CDC in 2002 but left to become a partner of Actis when it split from CDC in 2004. Investments overseen in that role include Nigerian retailer Vlisco, Banque Commerciale du Rwanda, and Middle East Fast Foods in Egypt.
CDC committed money to three African private-equity funds last year – €25mn (US$31mn) to AfricInvest Fund III, a fund raised by Tunisia’s AfricInvest Capital Partners to back small and medium-sized business across North, West and East Africa; US$15mn to the Synergy Private Equity Fund, the first fund raised by Lagos and Accra-based Synergy Capital Managers; and US$40mn to the Investec Africa Private Equity Fund II.