Our Private Equity team offers comprehensive business and legal expertise throughout the entire investment lifecycle. We help clients across Africa and the UAE.

We advise on fund structuring and regulatory compliance, execute growth equity and buyout transactions, navigate local content and ESG imperatives, and facilitate high-value exits, delivering coordinated pan-African solutions for general partners, limited partners, and portfolio companies.

Our Private Equity Expertise

Africa’s private equity is an attractive emerging market driven by sectors such as financial services, cleantech, healthcare, and consumer goods, amid currency challenges and a flight to quality investments.

We deliver integrated legal, business, and transactional expertise across Africa and the UAE to a diverse clientele, including:

  • Global and Pan-African Private Equity Funds
  • Growth and Buyout Managers
  • Venture Capital and Impact Investors
  • Limited Partners and Co-Investors
  • Development Finance Institutions (DFIs)
  • Family Offices and Sovereign Wealth Funds
  • Portfolio Companies and Founders

Our on-the-ground presence in key markets enables clients to structure funds efficiently, deploy capital seamlessly, manage portfolio risks, and achieve optimal exits in a maturing ecosystem.

How We Help in Private Equity (Representative Scope)

Our extensive services support the entire private equity lifecycle, providing tailored guidance for investments in Africa and the UAE, and this includes:

  • Fund Formation & Structuring: Advising on fund establishment, LP/GP (Limited Partner/General Partner) agreements, carry structures, tax optimisation, and regulatory approvals, including hybrid and impact-focused vehicles.
  • Investments & Transactions: Handling growth equity, buyouts, minority stakes, co-investments, and add-ons, with expertise in due diligence, joint ventures, and shareholder agreements across jurisdictions.
  • Portfolio Management: Supporting value creation through governance advisory, bolt-on acquisitions, operational restructuring, and ESG integration to meet LP reporting standards.
  • Regulatory & Compliance: Navigating foreign investment rules, local content requirements, competition approvals, and sector-specific regulations under evolving national codes.
  • Exits & Liquidity: Structuring trade sales, secondary buyouts, IPOs (where viable), continuation funds, and GP-led secondaries to maximise returns amid limited public market options.
  • ESG & Impact: Guiding impact measurement, sustainable finance alignment, climate risk integration, and gender-lens investing to attract premium valuations.
  • Dispute Resolution: Representing parties in fund disputes, shareholder conflicts, and arbitration arising from portfolio underperformance or exit disagreements.

Why Clients Choose ALN

  • Pan-African Reach: Coordinated execution across Africa’s leading private equity hubs, blending local market knowledge with international fund standards.
  • Pan-African Lead Counsel & Project Management: We consistently act as lead transaction counsel on significant cross-border deals involving multiple African countries, even those with no local law component. Our team effectively coordinates advice from local firms, serves as the primary client contact, leads deal negotiations, and manages all transaction documentation from start to finish.
  • Regulatory Fluency: Proven expertise in managing currency risks, impact mandates, and exit pathways to de-risk deployments and enhance liquidity.
  • Integrated Teams: Specialists in Corporate & M&A, Funds, Regulatory, Tax, Competition, Employment, ESG, and Dispute Resolution collaborate to deliver comprehensive solutions from fund formation to exit.
  • Cross-border Delivery: Aligning African investment nuances with global LP expectations for robust, bankable, and future-oriented structures.

Representative transactions include advising:

  1. Leapfrog Investments

    A private equity firm, in connection with its acquisition of approximately 24% of the shares in ICEA Lion Insurance Holdings from First Chartered Securities, the holding company of the ICEA group of companies which undertakes insurance business in Kenya, Uganda and Tanzania.

  2. Carlyle Group, CVC Capital Partners and the China Investment Corporation

    In connection with the acquisition of a majority of the share capital of Engie’s interest in upstream petroleum activities in Algeria.

  3. AfricInvest Capital Partners, DEG, FMO and Proparco

    In connection with their initial and subsequent equity investment in a 14.3% of stake in Britam Holdings, a Kenyan listed insurance and asset management group with operations in Kenya, Tanzania, Uganda, Rwanda, Malawi, South Sudan and Mozambique.

  4. Emerging Capital Partners

    A US based Private Equity fund, in connection with the sale of its stake in Java House, East Africa’s leading coffee-led casual dining chain in Kenya, Uganda, Rwanda and Tanzania, to Abraaj Group, a leading investor operating in growth markets

  5. Actis and Improvon Group

    In connection with the development of an A-Grade product-specific warehouse and logistics park, on a 103-acre piece of land along Nairobi’s Eastern Bypass.

  6. Amethis Fund II S.C.A., SICAR, Proparco and Kibo

    as lead international counsel in connection with their investment into Stratton Africa Holdings (Stratton), a Mauritian holding company for Merec Industries, Maputo Grain Terminal and Merec Mozambique, a wheat importation and value chain company based in Mozambique.

  1. Proparco, Energy Access Ventures, Electrifi

    In connection with a USD 10 million investment into a Series B Financing Round in Solarise Group, a pan- African company that focuses on leasing, financing and investing in the renewable energy sector.

  2. EH Venture Capital Rwanda

    In connection with the development of a financial centre in Kigali Rwanda.

  3. Helios Investment Partners

    A leading Africa-focused private equity fund, in connection with the disposal of its stake of 24.99% of its shareholding in Equity Group Holdings, a company listed on the Nairobi Securities Exchange, the Uganda Stock Exchange and the Rwanda Stock Exchange, through a series of different transactions with multiple buyers, as well as on-market and off-market sales, and which is to date the largest private equity exit successfully completed in sub-Saharan Africa.

  4. Rise Fund and Certify

    A global impact fund led by TPG, a private equity firm, in connection with the acquisition of 100% of the shares of Cellulant Corporation, a leading digital payments’ service provider with ten subsidiaries in Kenya, Tanzania, Uganda, Rwanda, Zambia, Malawi, Mozambique, Ghana and Zimbabwe.

  5. Kiboko Holdings

    A holding company owning eight East African companies active in the pharmaceutical industry, and a leading distributor of pharmaceutical products in Kenya, Tanzania, Rwanda and Burundi and the largest manufacturer of parenteral in Uganda in connection with the exit by AfricInvest and acquisition by the Carlyle Group, an American based multinational equity fund, of a majority of the issued share capital in AK Life Sciences, a subsidiary of Kiboko Holdings.

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