IPS-CGRAE, a pension fund in Côte d'Ivoire, agreed to acquire Oragroup, an African bank, from Emerging Capital Partners, a Pan-African private equity fund. Financial terms were not disclosed. "ECP is very proud of the progress made since investing in Oragroup in 2008. Together, we have created a leading banking group with a Pan-African focus. ECP’s strategy is to create value in its investments by bringing company operations up to international standards to promote the emergence of regional champions over time. The initial public offering and this transaction validates this strategy. ECP is convinced that with CGRAE, Oragroup will continue its strong growth trajectory," Vincent Le Guennou, Emerging Capital Partners Co-CEO.