Actis, the emerging markets private equity unit spun out of British development financial institution CDC Group Plc, has lost its director and global lead for education sector to American PE firm TPG.
Hichem Omezzine has quit Actis to join TPG Growth as a partner, as per his LinkedIn profile. TPG Growth is the emerging markets investment arm of TPG.
He will be based in London and will primarily focus on Africa and impact investments. Omezzine received an MBA from Wharton, where he was a Palmer scholar, and is a graduate of Ecole Polytechnique, Ecole Nationale Des Ponts et Chausses and Science-Po in France.
He represented Actis on the board of pan-African higher education network Honoris United Universities, which brought together tertiary education institutions in North and Southern Africa. He was also on the board of Dutch fashion firm Vlisco, which seeks to push African ethnic wear inspired by Indonesian batik, and Tunisian branded generics maker Medis.
Other TPG executives engaged in Africa deals include Yemi Lalude, who leads TPG Growth’s investments on the continent and emerging market activities in the technology, media and telecom sectors; and Jide Olanrewaju.
Omezzine’s entry is expected to add more muscle to TPG Growth’s activities in Africa. In the past, TPG had sought to strike local partnerships to gain a foothold in the African investment market. In 2015, for instance, it inked an agreement with Mo Ibrahim and Satya Capital.
TPG Growth had formed a three-member team with Frederick Antwi, Jide Olanrewaju and Samir Abhyankar to drive African deals. However, Antwi, who was roped in 2014 to define a strategy for the continent, quit the firm in 2017. With Omezzine, TPG Growth will once again have three dedicated executives to look after investments in Africa.