SOLT LEGAL is proud to have advised Kuramo Capital Limited on the structuring, establishment, and successful first close of Kuramo Africa Opportunity Fund IV (“KAOF IV“), with commitments from Nigerian Pension Fund Administrators (PFAs) and a final closing target of US$100 million. This marks the first successful close of a local-currency private equity fund in Nigeria outside the infrastructure sector, setting a new precedent in the market.
The first close of KAOF IV marks an important milestone in the continued development of Nigeria’s private capital ecosystem, reflecting the growing participation of domestic institutional investors in alternative asset classes. As stewards of one of Africa’s largest pools of long-term capital, Nigerian PFAs have the potential to play a transformative role in financing businesses and driving sustainable economic growth. The participation of Nigerian PFAs in KAOF IV signals growing confidence in locally managed private equity funds and represents a significant step towards mobilizing local capital for local opportunities.
SOLT LEGAL advised Kuramo Capital on the structuring and set-up of KAOF IV, the preparation of fund documentation, regulatory engagements, compliance matters, and negotiations with limited partners.
Our role on this transaction reflects SOLT LEGAL’s commitment to advising fund sponsors, fund managers, and institutional investors on investment fund formation and advisory work across Nigeria and the broader African market.
We congratulate our valued client, Kuramo Capital, and all stakeholders on this significant milestone. We look forward to continuing to support KAOF IV as it deploys capital to high-potential businesses, drives sustainable growth, and contributes to the continued development of Nigeria’s private equity ecosystem.
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