Infinite Partners raises $169.3 million to back South African growth businesses

Infinite Partners, a South African mid-market private equity investment firm, has raised R2.8 billion ($169.3 million) to back established businesses, including those using technology to expand markets and scale.

The firm closed its Core Equity Fund II above its R2.5 billion ($151.1 million) target, backed entirely by South African institutional investors, including pension funds, insurers, asset managers and banks. The fund targets established mid-market businesses, with individual investments ranging from R100 million ($6 million) to R500 million ($30.2 million).

The…