(Ecofin Agency) - The New-York based private equity firm, Milost Global, which was founded by the former Sierra Leonean box champion, Forster Engerton (picture), has announced that it will open in South Africa a subsidiary named Isilo Capital Management. The latter will manage Africa-focused investment funds, Ecofin Agency learnt from official sources.  

The first objective of Isilo Capital Management will be the establishment of its first fund (Isilo Fund I) which will start mobilizing resources on November 20, 2017, with a subscription target of $5 billion, upon its closure. The fund expects 30% of its capital from Africa and the rest from Europe, Asia and the Middle-East.  

“Milost is excited to create ISILO Fund 1 that will have a seismic impact on the African economy. It’s significant to note the incredible opportunity our fund will afford many underserved countries in Africa to help combat inequalities in wealth,” said Forster Engerton. 

Idriss Linge