King & Wood Mallesons London-based corporate team led by partner Barri Mendelsohn has advised West African focused private equity investment firm, ACA, on the exit of its Capital Alliance Private Equity III (CAPE III) private equity fund from Wakanow.
CAPE III, who invested in Wakanow in 2015, sold its stake to global investment firm, The Carlyle Group.
Wakanow is the leading online travel agency in Nigeria. The Company utilized the CAPE III investment to grow 3-fold during the four-year holding period. Wakanow aims to become the leading online travel agency in Africa.
ACA specialises in growth equity, buyout, and turnaround investments, and risk capital. To date, ACA has raised four generalist private equity funds (CAPE I, II, III and IV) and one real estate fund (CAPIC). CAPE III is a mid to large-cap generalist private equity fund investing in anglophone West Africa.
Barri Mendelsohn, corporate partner, said: “KWM acts for ACA on a number of matters for its various CAPE funds, and we are pleased to assist ACA with this successful exit.”
KWM’s London team led by corporate partner Barri Mendelsohn also included banking and finance partner Khai Nguyen.