(Reuters) – Swiss private banking group Edmond de Rothschild has raised $530 million for its first Africa-focused fund, the Financial Times reported on Sunday.
The fund, which will focus on making deals in Africa, will be managed by Amethis Finance – a company majority-owned by the Edmond de Rothschild, the paper said.
Edmond de Rothschild would raise dedicated funds for Africa along with U.S.-based Carlyle Group LP and Dubai’s Abraaj, the daily reported.
Luc Rigouzzo, founder and managing partner at Amethis, told the FT that the fund would target minority stakes in small to medium-sized companies.
Edmond de Rothschild and Amethis could not be immediately reached outside regular working hours.