The Carlyle Group Launches Sub-Saharan Africa Investment Group, Expanding Its Presence in Emerging Markets; Marlon Chigwende and Danie Jordaan to Lead Team
Johannesburg, SA and Washington, DC – Global alternative asset manager The Carlyle Group today announced that it has established a team to conduct buyout and growth capital investments in Sub-Saharan Africa (SSA). The team is co-headed by Managing Directors Marlon Chigwende, former Managing Director & Head of Private Equity Africa for Standard Chartered Bank, and Danie Jordaan, former Executive Committee Member and Partner of Ethos Private Equity. The team also includes Managing Director Genevieve Sangudi, most recently a Partner and Managing Director of Emerging Capital Partners. Mr. Jordaan begins his duties immediately while Mr. Chigwende and Ms. Sangudi will begin in early May.
Greg Summe, Carlyle Managing Director and Vice Chairman of Global Buyout, said, “We are pleased to welcome Marlon, Danie and Genevieve to Carlyle. Sub-Saharan Africa is one of the fastest growing regions in the world, driven by favorable demographics, expanding domestic industries and an improving political environment. Carlyle’s SSA team comprises African nationals with deep market knowledge, broad networks across the continent and extensive experience in private equity transactions. The Africa team’s expertise should be a powerful combination with Carlyle’s deep industry experience and global platform.”
The Carlyle SSA team will make buyout and growth capital investments in private and public companies from offices in Johannesburg, SA and Lagos, Nigeria. Carlyle will focus on transactions where it has a distinctive competitive advantage and can create tangible value for companies in which it invests, through industry specialization, deployment of human capital and access to Carlyle’s global network. Carlyle’s initial target industries include consumer goods, financial services, agriculture, infrastructure and energy.
Co-head Danie Jordaan said, “We are excited to join Carlyle, with its demonstrated ability to build thriving private equity businesses across emerging markets. As SSA gains from political and economic reforms, demand for basic services and infrastructure is dramatically increasing. The entrance of a global player like Carlyle into SSA is a testament to the region’s progress and prospects and will attract more capital and talent to the region. We also believe Carlyle’s global network will facilitate the growth of its SSA investments in the major international markets.”
Carlyle’s Commitment to Emerging Markets
Since Carlyle first began investing in Asia in 1999, the firm has deployed significant capital and resources in other emerging or emerged markets, including South America, China, India, South East Asia and MENA. Carlyle first entered the African continent with the establishment of its Middle East North Africa team in November 2006.
- Since 1999, Carlyle has invested $6.4 billion in equity in emerging markets
- $16.6 billion in assets under management in emerging markets
- 160 professionals working in 12 offices in 9 emerging market countries
Mr. Jordaan is a seasoned private equity professional with 20 years’ experience in all aspects of the industry. Mr. Jordaan was most recently with Ethos Private Equity in Johannesburg, where he was a member of the leadership team. Mr. Jordaan has led numerous transactions including privatizations, expansions, auctions, industry consolidations, turnarounds, acquiring non-core assets from conglomerates, rationalization of non-core assets, public to privates and raising European HYB finance. Mr. Jordaan is a South African Chartered Accountant and earned his Bachelor of Commerce (Hons) degree in accounting from the University of Johannesburg and a computer science degree from the University of South Africa.
As the Managing Director and Head of Private Equity Africa for Standard Chartered, Marlon Chigwende led a team in Johannesburg and Lagos focused on investing across SSA. Mr. Chigwende worked on transactions in a variety of sectors including financial services, telecommunications, oil & gas, agriculture, consumer services and logistics. Mr. Chigwende has significant experience in the financial services industry having worked at Goldman Sachs, Greenhill and J. P. Morgan in London and focusing on private equity buyouts, growth capital investment, leverage finance and mergers and acquisitions work across a variety of developed and emerging markets. Mr. Chigwende earned his Bachelor of Science (Hons) degree in mathematics and actuarial studies from Southampton University and trained as an Actuary.
With Emerging Capital Partners (ECP) since 2004, Genevieve Sangudi established and managed the Nigeria operations, the firm’s largest by capital deployed. She played an active role in deal sourcing, execution and value creation for companies in the financial services, oil & gas and petrochemicals sector. She also played a lead role in fund raising for ECP’s last two pan-African funds. Prior to ECP, Ms. Sangudi was with Procter & Gamble in Boston, Massachusetts. Ms. Sangudi earned her M.B.A. from Columbia Business School, a Master’s in International Affairs from the Columbia University School of International and Public Affairs, and a B.A. in English and communication studies from Macalester College.
Johannes van Niekerk
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About The Carlyle Group
The Carlyle Group is a global alternative asset manager with $97.7 billion of assets under management committed to 76 funds as of September 30, 2010. Carlyle invests across three asset classes - private equity, real estate and credit alternatives - in Africa, Asia, Australia, Europe, North America and South America focusing on aerospace & defense, automotive & transportation, consumer & retail, energy & power, financial services, healthcare, industrial, infrastructure, technology & business services and telecommunications & media. Since 1987, the firm has invested $64.7 billion of equity in 1015 transactions. The Carlyle Group employs more than 900 people in 19 countries. Web: www.carlyle.com