DMC Partners, the developing markets-focused private equity firm co-founded last year by the former co-head of global securities at Goldman Sachs, is expected to hire a former Goldman banker to source the firm’s first deals in Africa, according to three people familiar with the situation.

Nana Sao, a former managing director for Goldman Sachs's investment banking business in Johannesburg, South Africa, left the Wall Street bank three months ago and is expected to join London-based DMC in several months following a period of gardening leave, the people said.