(Ecofin Agency) - In partnership with the Mauritius-based holding Monnaie Africa, Milost Global, a Private Equity firm based in New York (US) which recently distinguished itself by acquiring various assets and investing in sub-Saharan Africa, has launched an investment fund for SMEs in the region. 

The fund’s major shareholder is Milost Global itself with a 70% stake. The firm which was founded and is led by the former Sierra Leonean box champion, Egerton Forster (picture), plans to mobilize up to one billion dollars by the end of 2018, for the fund. Though it is established in Mauritius, the fund will be managed by a Johannesburg-based team. 

“Within the African continent, Isilo Fund 1 will be one of a few properly resourced Private Equity Funds for the Small to Medium sized enterprises,” said Solly Asibey, Senior Partner at Milost Global.  

Milost Global thus moves on with its investment strategy in Africa. Indeed, last September 25, it was said to be involved in a $2 billion investment in Nigeria.

Chamberline Moko