The study examines PE exits between 2007–15 using data drawn from both public sources and confidential,
detailed interviews with former PE owners of exited businesses. Drawing from a population of 302 exits
occurring in Africa over the study period, the research provides detailed insights from a sample of 137
exits. The exits had a minimum entry enterprise value of US$1m and included only full (not partial) exits. Our
analysis entails an examination of the decision to invest, value creation during PE ownership, exit strategies
and key lessons learned during the process.
