Accelero Capital, the investment and management group, has announced on Tuesday that it has acquired ownership interest of its largest shareholder, Orascom TMT Investments (OTMTI), in a management buyout.
According to the press statement, the transaction will include the discontinuation of the management of certain assets for which Accelero Capital currently provides management, consultancy, and advisory services, in addition to changes in Accelero Capital’s ownership structure.
However, OTMTI will remain a strategic investor in the ACDC fund managed by Accelero Capital, which was established in 2014 in order to invest in the development of data centre ecosystems around the world based on the design of the state-of-the-art, multi-tenant, SUPERNAP facilities in Las Vegas, Nevada in partnership with Switch, Ltd.
The move comes as Accelero Capital seeks to reposition itself as an independent holding company with diversified sources of capital and a significantly broader investment mandate.
The buyout would reveal new opportunities for partnerships, funds, and sources of growth. With Accelero Capital’s track records of double digit returns, they are poised to emerge as one of the leading asset and fund managers in the region in 2017, said Khaled Bichara, co-founder of Accelero Capital.
“Accelero has enjoyed an outstanding period of growth under its management guidance, and I am confident that this success will continue over the coming years. We will remain a strategic investor in ACDC fund and we will continue to support Accelero in all possible ways we can,” said Naguib Sawiris, chairperson of OTMTI.
Accelero Capital, which was established 5 years ago, has managed client investments of over $550m, as well as having raised over $225m for direct deployments and acquisitions through its investment funds. The group’s management team has led companies listed on the London, New York, Swiss, and Cairo Stock Exchanges.