African Development Partners II, a pan-African private equity fund advised by Development Partners International, is investing $20 million in Université Privée de Marrakech, a private university in Morocco. Capital Trust provided financial advice to UPM on this transaction.
28th May 2014
Marrakesh/London – African Development Partners II L.P. (“ADP II”), a pan-African private equity fund advised by Development Partners International LLP (“DPI”) is making a US$20 million equity investment in Université Privée de Marrakech (“UPM”), one of Morocco’s leading private universities.
ADP II’s investment will serve to support UPM’s ambitious growth plans both in Morocco and in Sub-Saharan Africa and help UPM become one of the leading private universities in Francophone Africa. The investment benefits from the increasing penetration of the private sector which is driving substantial growth in the private education sector
The investment is in line with DPI’s investment philosophy of investing in growth industries, particularly those that service the emerging middle class. With government universities having reached capacities, the opportunities for private education in Morocco and elsewhere in Africa are poised for growth.
UPM has grown to be one of the foremost private higher education providers in Morocco and serves over 1,900 students through its 32-hectare state of the art campus located in Marrakesh. With programs tailored to meet both student and industry needs, UPM provides undergraduate, graduate and doctoral degree programs in 6 major fields: management and governance, tourism and hospitality management, engineering and innovation, health sciences, sports management, and arts.
Sofiane Lahmar, Partner of DPI commented: “We are excited to be investing in UPM. The private education sector is an emerging but rapidly growing industry for private equity investors. Consistent with our investment approach, we will work closely with Mohamed Kabbadj and management to ensure expansion in line with UPM’s growth plans.”
Founder of UPM Mohamed Kabbadj said: “We are delighted to welcome DPI as a partner. With their help and support, we look forward to growing UPM’s student base to up to 10,000, developing new degree programmes, and expanding our presence into Africa.”
Capital Trust acted as exclusive financial advisor to UPM on this transaction.
Development Partners International LLP (DPI) is an Africa-focused private equity firm that invests in companies benefiting from the fast-growing emerging middle class in Africa.
Founded in 2007, and based in London, DPI’s investment process combines rigorous analysis with comprehensive due diligence. The firm seeks out compelling investment opportunities and aims to obtain exclusive terms, rational pricing and strong influence. The investment philosophy places great importance on working closely with the fund’s portfolio companies to create value while looking for attractive exit opportunities throughout the fund’s investment period. DPI invests in profitable or cash-flow positive companies which are growing either organically or through acquisitions, or partnering with established corporations expanding into new regions in Africa. The companies’ management must be experienced, and committed to transparency; with a clear corporate strategy designed to create value for shareholders.