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Duet Group hires 4 execs to Africa-focused private equity team


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According to Market Intelligence, April 2023

Duet Group hires 4 execs to Africa-focused private equity team

U.K.-based investment company Duet Partners Ltd. hired several executives to its African private equity team, Private Equity News reported, citing the company's Chief Investment Officer Henry Gabay.

Julio Roda, a consumer goods executive at Peru-based AJE Group, will join Duet as an industrial adviser to help with consumer-sector investments in Africa.

AJE Group is the former parent of AJEAST Nigeria Ltd., a soft drinks company in which Duet Private Equity Ltd. recently purchased a majority stake for more than $50 million, according to the report.

Also joining Duet Private Equity are Fred Chima, Diamatho Doumbia and Kwinten van Nes. Chima joined as managing director from Singapore-based Temasek Holdings (Pvt.) Ltd., where he worked on direct investments in the Middle East and Africa.

Doumbia joined as vice president from Nigeria-based investment company LATC Group, where she helped set up a logistics business for the offshore oil and gas industry. In her new role, Doumbia will focus on making deals in francophone Africa.

Van Nes joins Duet Private Equity as an associate from Abraaj Group Ltd., where he was focused on healthcare and consumer investment. He worked at Abraaj's offices in Dubai, Lagos and Mexico City.

Duet Group Ltd.-owned Duet Partners has seven African companies in its portfolio. It is eyeing more investments in sub-Saharan Africa in beverages, a biscuit maker, a data-center business and a pharmaceutical company, Gabay said.