The private equity fund will be worth a total $20m.
African Development Partners II (ADP II), a pan-African private equity fund advised by London-based Development Partners International (DPI) is making a $20m equity investment in Université Privée de Marrakech (UPM). UPM is a private university in the Moroccan city.
The investment will support the university’s growth plans both in Morocco and in Sub-Saharan Africa, and firmly establish itself in francophone Africa. The investment is in line with DPI’s realisation that government universities on the continent appear to have reached capacity, while private institutions seem poised for growth.
The university is hoping the investment will allow it to quintuple its current student base of 1,900, all on its campus in Marrakesh, and offer a wider range of courses on new campuses. The institution provides undergraduate, postgraduate and doctoral degree programmes in six major fields: management and governance, tourism and hospitality management, engineering and innovation, health sciences, sports management, and arts.
Sofiane Lahmar, partner of DPI, said: “We are excited to be investing in UPM. The private education sector is an emerging but rapidly growing industry for private equity investors. Consistent with our investment approach, we will work closely with [university founder] Mohamed Kabbadj and management to ensure expansion in line with UPM’s growth plans.”
