Our Investment Ethos
Environmental, social and governance and impact (ESGI) considerations are a fundamental part of this commitment. Developed in 2011, our ESGI strategy is deeply rooted in Adenia's DNA and organization, and aims to go beyond ESG to maximize positive impact for the communities.

Our impact approach focuses on improving the sustainability of operations and job quality and diversity in every portfolio company. We infuse a culture of strong ESG responsibility and mobilize employees to embed those values into the company, so that the ESG commitment lives on well beyond our investment.
Over a decade of sustainable investing
2022
2021
2020
2019
2016
2013
2012
2011
2008
2007
2004
2003
2002
2022

Jan
Celebrate 20th anniversary of responsible investing for a sustainable Africa

Dec
Achieve 2X Flagship Fund status for Adenia (V)

2021

Open new office in South Africa

2020

Begin defining investee ‘theory of change’ during due diligences

Undertake comprehensive carbon footprint assessment with EcoAct

2019

Become OPIM signatory
Open new office in Morocco

2016

Close Adenia (IV) - €230m

Open new office in Kenya

2013

Open new office in Côte d'Ivoire

Change brand name to Adenia Partners

2012

Close I&P Capital (III) - €96m

2011

Adopt Environmental and Social Management System (ESMS)

Open new office in Ghana

2008

Implement Environmental and Social Plan (ESAP)

2007

Close I&P Capital (II) - €37m

2004

Open new office in Madagascar

2003

Close first fund, I&P Capital (I) - €10m

2002

Founded Adenia Partners’ predecessor, I&P Management, in Mauritius

Meet our Team
A dedicated ESGI team led by Stéphane Bacquaert, IC Member and Partner in charge of ESGI and Mokgadi Maunatlala Head of ESGI.
Stephane Bacquaert Managing Partner
Mokgadi Maunatlala Head of Sustainability and Impact
Stephane Bacquaert Managing Partner

Stéphane Bacquaert is a Managing Partner at Adenia, primarily focused on leading Adenia’s private equity activities in North and West Africa. He has 25 years’ experience as a private equity, venture capital and consulting professional.

 

Stéphane joined Adenia in 2019 from Wendel where he was Managing Director and CEO of Wendel Africa for 15 years. At Wendel, Stéphane led the IPO of Bureau Veritas (Euronext: BVI) where he has been a Board member for over a decade. He led the investment strategy of Wendel in Africa where the group invested over $1 billion in equity since 2013. He has also held board roles at IHS Holding (now listed on the NYSE), Tsebo Solutions Group, Saham Group (Saham Finances sold to Sanlam Africa) and PlaYce Africa (sold to CFAO), as well as Materis and Mecatherm in Europe.


Stéphane was previously Partner at Atlas Venture, an international venture capital fund with $2.5 billion under management. There, he specialized in new technologies, media and telecoms. Stéphane began his career at leading strategy consulting firm Bain & Company, where he conducted studies in the telecom, banking and private equity industry in Europe and Central America. He then co-founded and led NetsCapital, an investment bank specializing in TMT.

 

Stéphane currently sits on the Board of Directors of three Adenia’s portfolio companies: Syrse, Overseas Catering Services (OCS) and Eastcastle Infrastructure.


Stéphane graduated from École Centrale Paris (Master of Science & Engineering) and Institut d’Etudes Politiques de Paris. He earned an MBA from the Harvard Business School (Baker Scholar).

Mokgadi Maunatlala Head of Sustainability and Impact
As a control and active investor, we continuously work with management team to uplift operational standards and working conditions. With continuous improvements to our ESG & Impact framework, our new gender and carbon initiatives, and the great energy of Adenia and our investees’ teams, I am convinced that we are well positioned to navigate the social and environmental challenges that lie ahead of us and contribute positively to the community."
Stéphane Bacquaert IC Member and Managing Partner in charge of ESGI
Our Impact
Our approach focuses on improving the sustainability of operations in every portfolio company. We infuse a culture of strong ESG responsibility and mobilize employees to embed those values into the company, so that the ESG commitment lives on well beyond our investment.