TLG Capital is set to ramp up its deal making activity following its integration into the global asset manager Duet Group – and is already working on its first deal under the partnership.
TLG Capital has been integrated into the Duet Africa Private Equity to enable the two companies to utilize synergies that exist between them. The partnership will see TLG access larger pools of capital, and will therefore be able to close larger sized deals beyond the $15million mark it has historically targeted.
The access to more capital will also enable TLG to consider sectors such as infrastructure, which that it had previously found challenging because of the bigger sums required for investment. The new Duet Africa Private Equity team, which now includes TLG staff, is already working on a deal in the financial services sector in Nigeria.
Following the integration TLG’s principal Zain Latif becomes managing director of Duet Africa Private Equity. He will work alongside Saad Aouad, also managing director in the private equity team and also its chief investment officer. Aouad was recently brought in from Kingdom Zephyr to lead Duet’s strategy in the African private equity space. TLG and Duet will however continue to exist as separate legal entities. The Duet Africa Private Equity team will also look to launch a fund over the next 12 months.
“Joining Duet is a critically important move that accelerates our Africa strategy,” said Latif [ pictured]. “It will open doors to opportunities we hitherto were not in a position to consider.”
Duet currently offers its institutional investors access to Africa through listed equities platforms, the Duet Africa Index Fund and the Duet Africa Opportunities fund. Both platforms follow long-only strategies focused on Sub-Saharan Africa, ex-South Africa.
Duet’s other emerging market-focused offerings include the Duet Middle East and North Africa (Mena) Opportunities fund.
“Africa is a key focus for Duet and adding the private equity and real estate capabilities to our existing African public funds will allow our investors to fully benefit from what Africa can offer in terms of growth and superior returns,” said Henry Gabay, Duet’s co-founder.
Duet also offers other funds covering global opportunities, commodities and global equities. The groups’ assets under management reached $2.4 billion in January 2011, across hedge funds, real estate and funds of hedge funds. Duet was founded in 2002.