The former regional heads for Africa at private equity giants KKR and Carlyle are setting up an investment firm, Arkana Partners, to target local equity investments of up to $100 million.

Kayode Akinola told Reuters on Wednesday that he was leaving KKR to join forces with Marlon Chigwende, who left his role as Africa chief at rival Carlyle in 2016, as private equity opportunities in Africa are often seen as too small for the buyout industry’s titans.

“We will be focused on the mid-cap, where we believe the bulk of opportunities are,” Akinola said, adding that while the emphasis will be on private equity investments the new firm will be flexible in its approach.

READ FULL ARTICLE HERE