South African private equity firm Infinite Partners has reached final close of its second core equity fund at R2.8 billion (US$169.3 million), exceeding its R2.5 billion (US$151.2 million) target.
The fund attracted commitments entirely from South African institutional investors, including pension funds, insurers, asset managers and banks, with support from both new and existing relationships within the asset consulting community.
Core Equity Fund II will provide growth and replacement capital to established mid-market businesses, with individual investments typically ranging from R100 million to R500 million (approximately US$6 million to US$30 million).
The fund has already completed two investments in e4, an enterprise software business serving the banking and property sectors, and CYNK, a digital infrastructure company focused on expanding fibre connectivity in underserved communities.
Infinite Partners said its investment in e4 is supporting product development, customer expansion and international growth. The company has processed R2.8 trillion in mortgages since inception and has also established an emerging operation in the UK.
CYNK's fibre network currently reaches more than 667,000 households, primarily in townships across South Africa, as the company expands digital infrastructure and connectivity in underserved communities.
The final close provides Infinite Partners with additional capital to pursue its investment pipeline across South Africa's mid-market.
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