In brief: Former Gulf Capital team raises $156m for African private debt

BluePeak Private Capital, which was founded in 2019, has attracted capital from a raft of development finance institutions.

BluePeak Private Capital, an Africa-focused private debt fund, has raised $156 million to back “homegrown businesses poised for sustainable growth at scale”.

BluePeak was founded in 2019 by three former executives from the credit team at Middle-Eastern alternatives firm Gulf Capital, including Walid Cherif, who started and led Gulf’s credit team.

The final close of the fund comes a little under three years since its first close; investors include the African Development Bank, British International Investment, the European Investment Bank, US Development Finance Corporation, SwedFund and Tunisia’s Caisse des Dépôts et Consignations. Sango Capital, a South Africa-based wealth manager, has also committed to the fund.

BluePeak is a signatory to the Operating Principles of Impact Management, according to a spokesperson, and its investment thesis is “centred on three pillars of resilience, inclusivity and wellbeing”.