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South African private equity firm Infinite Partners has announced the final close of its Infinite Partners Core Equity Fund II at $168 million (R2.8 billion), above its target of $150 million.
The fund is backed entirely by South African institutional investors. These include pension funds, insurers, asset managers and banks. The firm also received support from new and existing contacts in the asset consulting community.
Edward Pitsi, Co-Founder and CEO of Infinite Partners, thanked the investors for their confidence and said the firm’s approach has not changed since it started.
“Our Infinite Deal investment philosophy has remained the same from day one. We focus on backing quality businesses with identifiable tailwinds, and potential to create sustainable value over time,” adds Pitsi.
Infinite Partners is an independent private equity firm that invests in established mid-market companies. These are businesses that are innovating, entering new markets or changing their sectors.
According to the company, it has built a framework to assess deals, build conviction and work with founders, management teams and investors from entry to exit. The firm is 100% founder- and Black-owned, majority Black female-owned and Level 1 B-BBEE certified.
Core Equity Fund II will provide growth capital and replacement capital to established mid-market businesses. Typical investments range from $6 million to $30 million (R100 million to R500 million). The fund has made two investments so far:
e4 is a software company for the banking and property sectors, improving processes and helping South Africans secure mortgages. They have also expanded into the UK.`
CYNK focuses on providing fibre internet to underserved communities, mainly in townships, reaching over 667,000 households. Infinite Partners plans to make more investments in the future.
