A new specialist emerging market investment manager has been launched.
Called New Sparta Asset Management (“NSAM”), it’s the brainchild of economist, entrepreneur and co-founder of Ashmore Group plc Dr Jerome Booth.
NSAM aims to bring together leading economists and investment professionals with decades of experience managing and investing in high-growth businesses in emerging markets. The team hopes to combine in-depth understanding of global trends, an entrepreneurial approach and specialist knowledge, and experience across a range of sectors.
NSAM says that their strategy is not limited by sector, or geography. Its initial focus will be on renewable and conventional energy projects in Africa.
The executive team will consist of Dr Booth as Chairman of NSAM and Chair of the Investment Committee; Ousméne Mandeng, a former senior IMF official who also had senior positions in leading investment banks and asset management firms, as NSAM’s Head of Research and Development and a member of the Investment Committee; Liam Halligan, economist, writer and Sunday Telegraph columnist, member of the Investment Committee; Chris Raeder as General Counsel and member of the Investment Committee; and, Mark Weiller is Head of Distribution (he spent over ten years with Ashmore Investment Management).
Dr Booth said: “New Sparta Asset Management is about private markets in emerging markets. It responds to the growing need for specialist emerging market investment management that leverages sector knowledge in a private equity-style approach.
“There is a huge amount of untapped opportunity in emerging markets, particularly with companies in the private, pre-IPO stage, but we believe that access to the best emerging market investments requires more than just capital. At NSAM, our strategy is not only to bring the funds, but also find areas where we can add value by using our expertise to help companies, and nations, grow rapidly but sustainably.
“The NSAM team and I have built incredibly strong local networks over the years. Combined with early-life cycle development experience, we will use our insight and expertise to unlock growth and create sustainable returns. Investing by using specialist sector knowledge enables us to design and influence our investments, so increasing our control and reducing risk.
“NSAMS’s approach is different, we have a wealth of relevant experience and, crucially, a very strong pipeline of investment opportunities,” said Dr Booth. “I’m excited for what the future holds.”
NSAM has entered into a joint venture agreement with London based FCA and AIFMD authorised Tower Gate Capital Limited, which provide will management and regulatory support.