British New Sparta Asset Management to support Africa’s power sector with $250M fund
Monday, 27 November 2017 15:33
New Sparta Asset Management, a British specialist emerging markets investment manager, is raising up to $250 million, a statement of the European Investment Bank, revealed indirectly. The Bank must announce if it will back the move through a $50 million investment.
Mobilized resources will be allocated to investments in renewable energy projects in Africa under the Africa Renewable Power Fund. No detail is however currently available regarding countries that will be targeted by this fund.
Founded by Jerome Booth (photo), New Sparta Asset Management, seems well engaged in the process. At the beginning of the year, the firm put in place New Sparta Energy, a platform for brainstorming and prospection of power projects. It targets $10 million to $15 million investments in new projects.
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