Nile Capital launches Africa-focused hedge fund
September 13, 2011
Larry Seruma’s new fund is small, but he’s confident the continent is the next big thing.
Hedge funds managers, especially those in America, tend to avoid Africa. It’s either illegal or expensive to short stocks, many investments are limited by low capital capacity, and there’s still plenty of corruption and political instability. Larry Seruma doesn’t discount these challenges but believes that investing in Africa, where the population is expected to double in the next 30 years, is worth the hassle.
The head of Africa-focused New York mutual fund firm...
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