PAPE Funds makes sixth, and penultimate deal for Fund III

PAPE Fund Managers has made its sixth investment for Fund III, leaving the $62 million fund with approximately $10 million for its final investment, which it expects to take place in the first quarter of next year. Last week’s investment saw the mid-market South African private equity fund acquire a majority stake in Scamont Investment Holdings, an engineering OEM that makes, sells, and services displacement slurry pumps and multistage centrifugal pumps.

While the amount of money being invested in the firm has not been disclosed, Africa Capital Digest calculates that the fund is deploying in the region of $10 million in the business. Scamont’s management team still holds a 25% stake in the firm.

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