A $100 million trucking bet—but not in the US

J&J Transport truck
Source: J&J Transport

The Carlyle Group is putting its money where its mouth is in Africa.

The Washington-based alternative asset manager has made its second investment from its Carlyle Sub-Saharan Africa Fund, this time leading a group of partners to put $100 million in J&J Africa for a 50 percent ownership stake, according to people familiar with the deal.

J&J is a Mozambique-based logistics company specializing in the road transportation of cargo along the Beira corridor, a key Southern African trade route.

The J&J deal comes as Carlyle co-founder David Rubenstein has been publicly plugging Africa.