“Adenia Partners is honored to receive this prestigious award from Private Equity International, a highly-regarded global media outlet. The recognition validates the strength of our investment approach and the trust placed in us by our investors, portfolio companies and broader stakeholders,” said Stéphane Bacquaert, Managing Partner at Adenia Partners. “2024 was a landmark year for Adenia, and this award is a testament to the talent and dedication of our team as we continue to drive long-term, sustainable growth in Africa.”

The PEI Award win is the latest in a series of accolades for the firm including being named Pan-African Fund Manager of the Year at SuperReturn Africa and selected to the IA50. Adenia also received the Impact project/investment of the year in the social inclusion/community development category of the Environmental Finance Awards for its portfolio company, Quickmart. In addition, Quickmart, along with another Adenia portfolio company, Herholdt’s, were named among Africa’s Fastest Growing Companies by Financial Times.

In individual accolades, Mack Schow, Adenia’s Head of Investor Relations was selected for PEI’s list of Future 40 leaders and Founder and Managing Partner Antoine Delaporte received the 20 Champion Award from AVCA for his contribution to the growth of private capital in Africa through personal engagement with the industry.

Significant achievements in Adenia’s transformational year include:

Fundraising Success
Adenia closed its fifth flagship fund, Adenia Capital V, at its hard cap of $470 million. The fund, which was significantly oversubscribed, is the firm’s first completely pan-African vehicle and underscores confidence in Adenia’s investment approach and the compelling opportunities in Africa.

Investments and Exits
Adenia acquired The Courier Guy – a market leader in last-mile delivery and express parcel services in South Africa – and Erium – formerly 12 Air Liquide subsidiaries, which rebranded to create the first pan-African leader in industrial and medical gases.

Demonstrating its ability to generate sustainable value, Adenia completed three high-profile exits: Outdoor Holdings Limited, Cresta Paints and OMOA Group. The sale of OMOA Group marked the full liquidation of Adenia’s €96 million fund, Adenia Capital III.

Geographic Expansion, Team Growth
Adenia further extended its pan-African presence, opening a new office in Egypt welcoming Heba Hakky as Principal to lead its origination efforts and capitalize on the growing investment opportunities in this market.

The firm has continued to professionalize and institutionalize its operations with key leadership appointments, most recently welcoming Rinolan Moodley as Partner in South Africa. Adenia also promoted Mokgadi Maunatlala, Head of Sustainability and Impact to Partner, underscoring the centrality of sustainability to the firm’s investment approach.

About Adenia Partners

Adenia Partners is a private markets investment firm which has raised $950 million across five funds and co-investments, and is committed to responsible investing and a sustainable Africa. Founded in 2002, Adenia has a proven track record with 30+platform investments executed and 20 realized exits. Based on-the-ground across Africa, Adenia has one of the most highly qualified African private markets investment teams in terms of educational pedigree, longstanding experience as entrepreneurs and investors, and local in-depth knowledge. By creating stronger companies with quality jobs, fostering economic improvement, and elevating companies to meet ESG standards, Adenia is increasing the enterprise value for investors, whilst benefiting workers, communities, and companies in Africa. For more information, please visit: www.adenia.com