DLA Piper Africa, Kenya (IKM Advocates) is pleased to be advising the U.S. International Development Finance Corporation (DFC) as local counsel in relation to a USD180 million (approximately KES. 23.6 billion) financing of Acorn Holdings Limited (Acorn) for the expansion of the Purpose-Built Student Accommodation (PBSA) program (marketed as Qwetu and Qejani).
David Lekerai is a Partner in the Corporate Practice at IKM.
His areas of specialization include mergers and acquisitions, private equity, capital markets and competition law.
His clients range from private equity and venture capital firms, leading development finance institutions (DFIs), leading regional commercial banks, investment funds, and financial institutions.
Experience includes advising:
- KCB Group Plc in its acquisition of Banque Populaire Du Rwanda Plc (BPR), a commercial bank in Rwanda and in a subsequent merger between BPR and KCB Bank Rwanda
- Access Bank Plc in the acquisition of National Bank of Kenya Limited
- Ascent Rift Valley Fund II in its investment in Dune Packaging Limited
- International Finance Corporation (IFC) in its equity investment in Britam Holdings Plc
- African Development Bank (AfDB) in its investment in Dhamana Guarantee Company Limited, a credit enhancement company established in Kenya
- GuarantCo, Ropert Trust Company and Acorn Holdings in offer and listing of the Acorn Green Bond on the Nairobi Securities Exchange and the London Stock Exchange
- Centum Investment in acquiring 68% in Sidian Bank through a non-operating holding company
- Guaranty Trust Bank Plc in its acquisition of 70% Guaranty Trust Bank, Kenya, Limited
- United States Development Finance Corporation in its investment in Acorn D-REIT and I-REIT
- Norfund and Proparco in the sale of their equity interest in Serena Hotel, Tanzania.
- Norfund in the sale of shares in Serena, Rwanda.
- FMO Entrepreneurial Development Bank in its investment in Mawingu Networks.
Professional Qualifications
- Advocate admitted to the High Court of Kenya (2006)
Education
- Kenya School of Law, Diploma in Law (2005)
- University of Nairobi, Bachelor of Laws LL.B. (2004)
- Certified Public Secretary (CPS) (2013)
- Certified Public Accountant (CPA) (2005)
Prior Experience
- 2014 to date, Partner, IKM, DLA Piper Africa member firm in Kenya
- 2010 to 2013, Senior Associate, IKM, DLA Piper Africa member firm in Kenya
- 2009 to 2010, Associate, IKM, DLA Piper Africa member firm in Kenya
- 2008 to 2009, Legal officer, Kenya Revenue Authority
Memberships
- Law Society of Kenya
- Institute of Certified Public Secretaries of Kenya
Private equity is a type of investment class that involves the purchase of interests in private companies. While some investors may opt to purchase shares in publicly-traded companies such as those listed on the Nairobi Securities Exchange, private equity investors instead focus on acquiring controlling stakes in private companies, often referred to as "portfolio companies."