Africa-focused hedge fund Enko Capital has raised $100m for its private credit strategy targeting mid-sized companies across the continent. The fund is aiming a $150m final close with a hard cap of $200m, according to a report by Bloomberg

Enko, which manages $1.3bn plans to provide dollar-denominated private credit to sectors including agriculture, telecommunications, manufacturing, renewable energy, and financial services, filling a structural financing gap left by traditional lenders.

Investors in the fund include British International Investment, the IFC, SICOM Global Fund Limited, European impact investors, and African pension funds and family offices.

The move positions Enko among a growing cohort of hedge funds targeting emerging-market private credit, a market seeing record inflows from major lenders such as Blackstone and Apollo Global Management.