Global alternative asset manager The Carlyle Group has agreed to acquire a majority stake in South Africa-based telecommunications carrier CMC Networks from Africa-focused principal investments firm Investec Equity Partners. Carlyle will invest from the Carlyle Sub-Saharan Africa Fund, while CMC’s founder and management team will reinvest alongside Carlyle. Financial details of the transaction, which is expected to close in the first quarter of 2017 and is subject to regulatory approvals, were not disclosed.