Carlyle forms partnership with Dangote Industries to invest in Africa

The Carlyle Group has formed a strategic partnership with Dangote Industries to invest in Sub-Saharan Africa. Carlyle will invest through the Carlyle International Energy Partners fund to invest in the oil and gas industry including exploration and production and refining and gas commercialization. The partnership, through the Carlyle Sub-Saharan Africa Fund, also will invest in consumer, financial services and agribusiness.

Press Release

Global alternative asset manager The Carlyle Group (NASDAQ: CG) and Dangote Industries Limited (DIL), a diversified business conglomerate based in Africa, today announced they have formed a strategic partnership to invest in Sub-Saharan Africa. The partnership, working through Carlyle International Energy Partners, will work to invest substantial equity across the oil & gas value chain including exploration & production, refining and gas commercialization in projects that enhance local energy capacity, create jobs and contribute to a sustainable energy future in Africa. Carlyle and DIL, through the Carlyle Sub-Saharan Africa Fund, will also invest in consumer, financial services and agribusiness sectors, building blocks of the African economy.
Carlyle Co-CEO David M. Rubenstein said, “We are proud and excited to deepen our relationship with Dangote Industries, an anchor investor in our Sub-Saharan fund. Aliko Dangote, President and CEO of DIL, is a pioneer in the African business community, with the depth of vision and commitment that will better enable Carlyle to find and create choice investment opportunities in Sub-Saharan Africa and contribute to economic development on the continent.”

Mr. Dangote said, “Carlyle brings ability and capital to Africa and has deep expertise in the oil & gas value chain. David Rubenstein and his partners have a proven track record of value creation around the globe that can benefit growing businesses across Africa. Carlyle was the first global private equity firm to create a dedicated fund and team to pursue opportunities in Sub-Saharan Africa and I am proud to partner with this globally recognized investment leader.”

Carlyle’s International Energy team focuses on oil and gas exploration and production, midstream, oil field services and refining and marketing in Europe, Africa, Latin America and Asia. Recent activity includes investments in Discover Exploration and Varo Energy.

Carlyle’s Sub-Saharan Africa fund, with offices in Lagos and Johannesburg, has made three investments: ETG, a pan-African agricultural supply chain company; J&J, a southern African logistics company; and Traxys, a global metals trader with significant sourcing in Africa.

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About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $203 billion of assets under management across 126 funds and 139 fund of funds vehicles as of June 30, 2014. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,600 people in 40 offices across six continents.

Web: www.carlyle.com
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About The Dangote Group
Dangote Industries Limited (DIL) is one of the most diversified business conglomerates in Africa whose activities encompass cement, sugar, salt, flour, poly-products, logistics, oil&gas, petrochemicals, fertilizer and real estate. The combined market capitalization of its various subsidiaries is over $25 billion. DIL’s core business focus is to provide local, value added products and services that meet the ‘basic needs’ of the populace. Through the construction and operation of large scale manufacturing facilities in Nigeria and across Africa, the Group is focused on building local manufacturing capacity to stimulate economic growth and generate employment.

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