London-based asset management firm Silk Invest has launched the Luxembourg-domiciled African Lions and Arab Falcons fund.
London-based asset management firm Silk Invest has launched the Luxembourg-domiciled African Lions and Arab Falcons fund.
The portfolio managers, based in London, Cairo, Casablanca and Johannesburg, plan to build up their holdings cautiously, taking advantage of liquidity opportunities.
Zin Bekkali, chief executive of Silk Invest (pictured), says: ‘Raising assets in these markets proved extremely challenging. Ultimately, the strength of our investment proposition, and the valuation of the markets we specialise, convinced investors to support the launch.
‘Silk Invest believes the economies it specialises in offer strong prospects for sustainable growth. Africa and Middle East are potentially today’s most attractive investment opportunity as they have strong fundamentals including low debt levels, healthy monetary reserves and a supporting demographic structure.’
African and Arab markets account for four per cent of worldwide market capitalisation and this is projected to increase as the two regions are set to increase their share of the world’s GDP, the company believes.
Baldwin Berges, director of business development, says: ‘The funds should grow in size fairly rapidly. Investors understand well our proposition and we have built a pitch book in excess of EUR500m. Many of these investors have committed to invest in our funds, once the fund is up and running.’
