The Carlyle Sub-Saharan Africa Fund will be unbundled to form Alterra Capital, a fund that will be managed by the existing management of the African portfolio. The management includes Eric Kump, Idris Mohammed, Genevieve Sangudi and Bruce Steen alongside a core investment team. Alterra Capital is expected to take over the management of the fund from 1 July 2020 and will continue to have a strategic relationship with Carlyle.
Carlyle is one of the largest global alternative asset managers in the world with $217-billion in assets under management and 32 offices across 6 continents and over 1,775 professionals worldwide since its establishment in 1987. The asset manager operates 4 core business segments known as corporate private equity, global credit, real assets and investment solutions. Carlyle was the one of the first global alternative asset managers to form a Sub-Saharan Africa Fund with $700m in assets under management. The team will manage the unbundled private equity fund from the Johannesburg (South Africa) and the Lagos (Nigeria) offices.