EIB reviewing CardinalStone investment

The European Investment Bank (EIB) is considering a USD 14mn equity participation in CardinalStone Capital Advisers Growth Fund – a generalist PE fund that is targeting growth capital investments in SMEs active in Nigeria and Ghana.

CardinalStone aims to raise USD 80mn for the fund, which will invest in the financial and insurance sectors.

Related article: IFC backs CardinalStone with $10mn