Rosemont Investment Partners, a private equity firm, has agreed to make an equity investment in Silk Invest, an asset boutique which specialises in frontier markets.
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Silk Invest will remain fully independent and majority owned by its management team and partners, while Rosemont will own a minority stake.
Silk Invest has three independent investment teams for public markets equities, fixed income and private equity. It manages approximately US$200 million in four different frontier equities strategies; a frontier fixed income fund and an African Food & beverages private equity fund.
Silk Invest was founded in 2008 in London by Zin Bekkali and a team of investment professionals. The company’s public markets and private equity teams were led by the asset managers Daniel Broby and Waseem Khan. Silk Invest operates in 14 frontier countries and has offices in London, South Africa, Egypt, Morocco, UAE, Kenya and an upcoming local presence in Nigeria.
David Silvera, managing director of Rosemont, said: "We are excited to have the opportunity to work with the accomplished and diverse group of professionals at Silk Invest.
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By GlobalData"We have come to know and respect the investment process and discipline of the team and we look forward to working with them as they continue to grow the company and serve their clients’ needs with a compelling and differentiable suite of frontier investment capabilities."
