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Summit Africa raises R900m with second private equity fund

Private equity firm Summit Africa has acquired 55% shareholding in St Mary’s Hospital in Mthatha, located in South Africa’s Eastern Cape province, from Life Healthcare Group.

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Summit Africa, a specialist black-owned and managed impact investment manager and licensed financial services provider, has launched Summit’s Private Equity Fund II (SPEF II) with a $20m (c.R355 million) anchor investment by British International Investment (BII), the UK’s development finance institution and impact investor.

In a bid set to accelerate financial inclusion, digital transformation, and food security in South Africa, Summit Africa, a South African-owned impact investment firm, has launched Summit Private Equity Fund II (SPEF II) to help drive financial inclusion, digital transformation, and sustainable food systems.

Summit Africa, a South African fund manager, has launched its second private equity fund, Summit Private Equity Fund II (SPEF II), with an initial $20 million anchor investment from British International Investment (BII), the UK’s development finance institution and impact investor.

Summit Africa, a South African fund manager, today announced the launch of its Summit Private Equity Fund II (SPEF II) with a $20 million anchor investment by British International Investment (BII), the UK’s development finance institution and impact investor.

Malmesbury in the Western Cape will soon boast an 84-bed hospital with four advanced operating theatres, emergency and trauma care, neonatal and paediatric intensive care units.