New Sparta Asset Management has been set up by the co-founder of London-listed Ashmore Group, a specialist emerging market manager.
Ashmore co-founder Dr Jerome Booth has launched a London-based emerging markets investment house through his private office New Sparta.
New Sparta Asset Management will manage and invest in high-growth businesses in emerging markets. The company, which will invest across sector and geographies, will initially focus on renewable and conventional energy projects in Africa.
“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,” said Booth.
“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.”
Booth will serve as NSAM's chairman and chair of its investment committee, while Ousméne Mandeng, a former senior IMF official, will lead research and development. Before New Sparta, he held senior roles at Prudential Investment Management, UBS Investment Bank and Ashmore Investment Management.
Economist, writer and Sunday Telegraph columnist Liam Halligan will also sit on the investment committee, alongside Ousméne and Chris Raeder, who has been appointed as NSAM's general counsel. Raeder, who previously spent six years at Ashmore Group, is a founding shareholder of the new company. He is also a lawyer with over 25 years’ experience in emerging markets banking, investment banking and funds management.
Lastly, Mark Weiller will serve as NSAM's head of distribution after over a decade with Ashmore Investment Management in various roles including head of client and product management, Americas, and global head of consultant relations.
“NSAMS’s approach is different, we have a wealth of relevant experience and, crucially, a very strong pipeline of investment opportunities,” said Booth. “I’m excited for what the future holds.”