Scipion Capital is launching a multi-strategy Africa-focused hedge fund next month. Dubbed the Scipion African Opportunities Fund, the fund will launch on July 1 with US$100 million in seed capital.
The fund offers three share classes that will invest in different facets of the African market. Class A offers structured-finance trade opportunities, while Class I is exposed to the Ai40 Index Share Tracker, which is made up of African companies with a combined market capitalization of more than US$250 billion. The fund’s third share class, Class S, gives investors exposure to private equity in the form of pre-IPO investments as well as long-only quoted names on African stock exchanges.
All three share classes offer monthly subscriptions and quarterly redemptions with 30 days notice for the more liquid Class I, 90 days notice for Class A and 180 days notice for the illiquid Class S.
Scipion will donate 5% of its performance fee to provide microfinance for women and scholarships for local students attending African universities.
Scipion is headed by Barclays Bank veterans Nicolas Clavel and Gerry Kerr. Andrew Garden, formerly with Citibank and First Merchant Bank, heads the firm’s structured trade finance initiatives.