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Edmond de Rothschild secures $530m for first African fund

1 Jul 2014

OLYMPUS DIGITAL CAMERASwiss investment firm Edmond de Rothschild has raised $530m for its debut African-focused private equity fund.

The vehicle will be managed by Edmond de Rothschild’s majority owned company Amethis, which was launched by former executives at French development financial institution Proparco Luc Rigouzzo and Laurent Demey, said the Financial Times.

Amethis will focus on buying small stakes in small to mid-sized companies due to an increase in prices of the larger deals amid an inflow of capital into the region, said the report.

LPs in the fund will have the option to convert their fund stakes into shares in a company, enabling them to remain invested in these businesses for a long time instead of selling them after six years.

Last November the firm closed its BioDiscovery 4 venture capital fund on €192m, making it 25 per cent larger than its previous vehicle.

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