Thames River Capital has launched a multi-manager hedge fund that will have exposure to multiple investment strategies across all African and Middle Eastern markets and asset classes.

The Africa Focus Fund will take a two-pronged approach to exploit predominantly hedged opportunities in South Africa and directional opportunities in markets elsewhere in Africa and the Middle East, according to the firm. It’s looking to net returns of 15% annually.

“The continent of Africa offers a wealth of opportunities, with an unparalleled universe of 53 countries and 23 stock exchanges from which to choose,” said portfolio manager Ken Kinsey Quick. “There is huge potential: Africa remains fundamentally unaffected by global credit concerns and its growth is largely a result of structural, political and economic reform rather than an export-led strategy.”

The Cayman Islands-domiciled fund charges a minimum investment of €100,000 or $100,000. Its management fee is 1.5% and performance fee is 10% with high-water mark.