Nile Capital launches Africa-focused hedge fund
By Lawrence Delevingne
Tue Sep 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 Nile
Capital Management, Seruma is launching one of the few
U.S.-based hedge funds to invest primarily on the continent.
Beginning October 1, the Nile Africa Frontier Fund will invest
in equities and credit across what some call the last true
emerging market. The focus will be on companies that are listed
on one of the continent's more than 20 stock exchanges,...
ISSN: 2151-1845 / CDC10004H
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