Duet Private Equity Limited, a subsidiary of the Duet Group, was founded in 2005 and is based in London, United Kingdom. It invests in consumer and consumer-related industries and specializes in investments in early stage, emerging growth, turnaround, growth capital, buyout, real estate and infrastructure.
Through Duet Africa Private Equity, the firm seeks to invest in Ethiopia, Mozambique, Tanzania, Uganda, Nigeria, Mozambique, Francophone West Africa, and Ghana and considers investments between $20 million and $50 million. The firm invests with an investment horizon of five to seven years and seeks to exit its investments through an IPO or asset disposal.
In early August, Duet Private Equity Limited was reported to have acquired a majority stake worth $50 million in a multinational beverage company, Ajeast Nigeria, which is a subsidiary of AJE Group. The introduction of brands such as BIG Cola, BIG Orange and BIG Lemon has allowed Ajeast Nigeria gained significant market share in the carbonated beverage segment through time-tested marketing strategies and a strong value proposition and Duet confirmed it was delighted to be partnering Ajeast Nigeria in this expansion drive.
In this interview, Manish Rungta offers insights into the firm’s activities across Africa and plans to expand its investment footprint.