Investec has held a final close on Investec Africa Credit Opportunities Fund 1

Africa-focused asset management firm Investec Asset Management has held a final close on Investec Africa Credit Opportunities Fund 1 with US$226.5 million in commitments. Development finance institutions FMO and CDC Group are anchor investors in the fund, which also has the support of insurance funds, pension funds, funds of funds and endowments. Separately, Investec has invested in South Africa-based mobile transaction solutions provider wiGroup. The company plans to use the new funds to grow internationally, enhance its current product portfolio and develop new products. Financial details of the transaction were not disclosed.