Fund VI exceeded by $50 million Ethos' initial target as well as the firm's last fund, which closed in 2006.
The current fund has already begun to be invested. Last year it acquired a South African corporate clothing and promotions company called Kevro for 850 million rand ($95 million) and invested an undisclosed sum in a South African construction company, Waco International.
Ethos declined to identify individual limited partners for its newest fund, although a representative said via e-mail the geographic breakdown was fairly evenly split between Africa, Europe and North America, and Asia and the Middle East. Limited partners include sovereign wealth funds, insurance companies and pension funds, the company said.
Ethos, which was formed in 1984, is among the oldest private equity firms in Africa. Like most private equity on the continent, Ethos continues to be centered in South Africa, Africa's most developed economy and a market long accustomed to buyouts. However, some global private equity powerhouses are beginning to look at Africa more seriously and, in the process, are taking a more regional approach.
Carlyle Group, for example, in November invested in a Tanzanian commodities company called Export Trading Group, the first investment in a targeted $500 million sub-Saharan African fund.
KeyBanc Capital Markets Inc. brought in Anne-Marie Peterson as a managing director in its leveraged finance group to work with middle market private equity firms. For other updates launch today's Movers & shakers slideshow.
The shares prices of publicly traded private equity firms posted a disappointing performance for most of the first half of 2014; over the past month, however, the trends have flipped. More video