Africa-focused asset management firm Investec Asset Management has reached a final close for Investec Africa Private Equity Fund 2 (IAPEF 2) with US$295 million in capital commitments. Investors in the fund included pension funds, endowments, funds of funds and development finance institutions. IAPEF 2 focuses on consumer sector businesses in Africa and has already invested in three companies: South Africa-based mobile transaction technology provider wiGroup, South Africa-based consumer debt management company IDM Group and Nigeria-based mobile telecommunications infrastructure provider IHS Towers.