Convergence Partners Secures ZAR400mn Funding Facility From Nedbank
News: South Africa-based investment management firm Convergence Partners has secured a ZAR400mn (USD38.6mn) long-term funding facility from Nedbank. The loan amount will be used by Convergence Partners to fund the next phase of its investment lifecycle. The investment will initially focus on Convergence Partners Communications Infrastructure Fund. In 2013, the firm had reportedly invested USD145mn in the Information and Communications Technology (ICT) sector in Africa. The fund will support the critical investment activities of the recently launched ICT infrastructure fund, according to CEO Brandon Doyle.