Thursday, 26 November 2015
Last updated 15 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…