Spice Private Equity & Helios Investment Partners acquire Africa Oil Corporation.

Spice Capital, the Swiss private equity company that targets investments in the Asia Pacific, Sub-Saharan Affrica and Latin America, has invested $5 million alongside Helios Investment Partners for a significant minority stake in Africa Oil Corporation, an East African exploration and production company. The size and structure of the stake were not disclosed.
Africa Oil Corporation (AOC), which has a dual listing on the Toronto and Nasdaq Stockholm Stock Exchanges, is an East African-focused oil company with footprint covering 7 oil blocks across Kenya and Ethiopia. AOC’s operating partner is Tullow, the leading E&P group with a long standing presence in Africa. AOC’s management team is backed by the Lundin Group, a successful investor in both the sector and the region.
Spice Private Equity has a long standing relationship with Helios’ principals and it has made a commitment to its current fund. This investment is the firm’s frist co-investment on the sub-Saharan region following its recent strategic repositioning.