Tuesday, 21 October 2014
Last updated 9 hours ago
Jan 30 2013 | 12:47pm ET
Private equity firm Jacana Partners is to merge with a Kenyan firm as it plans a new fund focuses on Africa.
Jacana and InReturn Capital will combine their operations by April. The two firms have been working together for three years, with InReturn co-managing one of Jacana's two existing African funds. The merger will give Jacana, which is based in London and manages US$43 million, offices in Nairobi, Kenya, and Dar es Salaam, Tanzania.
The combined company plans to raise a new US$75 million fund to invest in small- and mid-sized African business, in at least eight countries. Among the countries under consideration are Ethiopia and Nigeria, with plans to deploy between $1 million and $5 million to each target company, Bloomberg News reports.
Jacana CEO Simon Merchant said the expanded firm aimed to profit from Africa's growing population and middle class.
The firm plans to raise money primarily from development finance institutions. Eventually, Jacana hopes to attract American and European high net-worth and institutional investors.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...