Our primary focus is to launch a closed-ended fund specialising in Sub-Saharan African (SSA) debt investments. The partnership is targeting a first close of the Fund at $100 million.
- The Fund’s structure is based on a classic private equity fund. Crucially, however, the frequent partial liquidity events (annual) and shorter-term investment period (five years) reflect the credit nature of the product.
- The target net annual return for the Fund is 20%. To our knowledge, this strategy, focused purely on SSA, excluding South Africa, is presently unavailable elsewhere in a Fund structure.
- The principals of 46 Parallels and investors in the Fund are fully aligned through an innovative fee structure that does not reward the fund manager until investments are exited, capital returned and real profits paid to investors.