Aliko Dangote, US billionaires’ partner on $500 million Africa fund

Aliko Dangote, Africa’s wealthiest individual and the Chairman of the Dangote Group, has teamed up with billionaire investors from the United States to back a new $500 million fund focused on Africa.

According to a report by Bloomberg, a team that originated from Carlyle Group Inc. announced on Wednesday that they had received support from the founders of the prominent U.S. private equity firm, as well as Aliko Dangote, to establish the Alterra Capital Fund, which is dedicated to African investments.

The co-founders of Carlyle, namely David Rubenstein and Bill Conway, are notable participants in this fresh endeavour, as disclosed by partner Genevieve Sangudi in her conversation with Bloomberg.