Market Overview

Milost Global Announces Formation of a New Africa Buyout Fund


NEW YORK, Sept. 19, 2017 (GLOBE NEWSWIRE) -- Milost Global Inc. announced today that it has partnered with Monnaie Africa Ltd ("Monnaie"), a Mauritius based Investment holding firm to launch Isilo Fund 1, a new and agnostic Private Equity Fund which will be focused on leveraged buyouts and restructuring of Microcap companies in Africa. Within the month of September, 2017, Milost and Monnaie will form Isilo, a Mauritius GP which will act as the fund manager to Isilo Fund 1. Milost Global Inc. GPs will own 70% interest in Isilo whereas Monnaie will hold 30%. The closed ended Africa Fund will seek to raise a total of $1 billion within the next 9 months and will have a life of 10 years. Isilo will be domiciled in Mauritius, which is increasingly positioning itself as one of the preferred gateways to Africa for global Institutional investors. The GP firm will further house its investment team in Johannesburg, at the Milost Africa headquarters.

Commenting on the new initiative, Milost Global Inc. Managing Partner & CEO Mandla J. Gwadiso said, "Isilo is a logical extension of Milost's investment activity, when Amit approached us with this idea, we knew that the fund would serve companies that have been neglected by PE for decades. We are thrilled at what we believe will help bolster entrepreneurial growth and boost business morale for these even smaller companies in Africa. We look forward to holding hands with Monnaie in bringing permanent funding solutions for small businesses in Africa, thereby creating employment opportunities and eradicating poverty."

Lulu Letlape, Co-founder, Senior Partner & President of Milost Global Africa said, "It is our intention to cater to all sizes of businesses in the market, it is a norm that when people hear the word Private Equity, they know it associates to big numbers and now what we are doing is change the stereotypic mind-set and bygone indoctrination. This will be the beginning of a new chapter in the African Capital Markets."

Solly Asibey, Senior Partner & Vice President of Milost Global Africa said, "Within the African continent, Isilo Fund 1 will be one of a few properly resourced Private Equity Funds for the Small to Medium sized enterprises. SMEs and Microcap companies constitute a majority of a country's economy and employment virtually worldwide, and this will enable us to reach out and add value to this market. Securing financing for expansion is one of the main challenges faced by small to medium sized businesses, and we are excited to be part of the solution to this challenge."

Amit Bakhirta, Founder & Managing Director of Monnaie said, "Financial, economic independence and competitiveness has and will be the toughest, most inevitable barrier for Africa and Africans to achieve true freedom. Mr. Gwadiso and Milost Global Inc. today reflect the epitome of America's truly entrepreneurial and disruptive approach to private equity investments in Africa. We are most importantly honored and excited for Isilo; the ‘beast' bringing hope, sustainable value and long termism to African businesses. The fund will focus on an intelligent blend of financing solutions across the capital structure, uniquely adapted to the realities of the current and future needs of these companies. The current African capital markets and macro-economic cycle provides a very attractive ‘entry-confluence' for Isilo."

Doris Bakhirta, Co-founder & Managing Director of Teahourcake Capital (LBOs), the founding shareholder of Monnaie, also had this to say, "At Monnaie, the team is devoted to enhancing value in the most promising SMEs in Africa… Where there is a will, there is a way." Mr. Qallam Jauhangeer, Co-Founder of Teahourcake Capital (LBOs) and Director-Legal, Monnaie, further added "We are committed to long-lasting partnerships with African entrepreneurs as this is fundamental for Africa's ascension. We look forward to an enriching alliance with Milost Global Inc."

About Monnaie Africa Ltd

Monnaie is an African Investment Company that focusses exclusively on Quality Institutional and Retail Asset Managers, Private Equity firms, Wealth Managers and ‘Asset Light' Investment Banks operating in Africa. Monnaie primarily uses dedicated Leverage Buy Out ('LBO') strategies via Teahourcake Capital to fund its portfolio acquisitions, thereon emphasizing on the optimization of the potential and synergies of its underlying Brands. Monnaie focuses on its Partners‘ aligned interests. Monnaie firmly believes that shared values, trust and aligned vision are the core foundation for any successful partnership in Africa.

Monnaie Africa Ltd,

+ 230 58046938
C/O CIM Global Administrators Ltd,
Les Cascades, Edith Cavell Street,
Port Louis, Republic of Mauritius

About Milost Global Inc

Milost Global Inc. is an American Private Equity firm that is headquartered in New York City, with more than $25 billion in committed capital. Milost is at the intersection of creative investing and value creation. Milost is also a provider of alternative capital, mezzanine finance, and alternative lending to a broad range of industries across the globe including Technology, Transport, Cannabis, Education, Distribution, Mining, Oil & Gas, Financial Services, Healthcare, Pharmaceuticals, Real Estate, Alternative Energy and Infrastructure Development.

Milost Global Inc. 
+1 212 918 4792 t
+1 212 225 8246 f
48 Wall St., 11th Floor
New York, NY 10005, USA

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