Emerging markets private equity fund manager Aureos Capital has announced that it plans to raise new funds for Central Asia, Latin America and Africa. With the new funds Aureos expects to double its funds under management by 2008/2009. To date Aureos has raised and/or managed nearly $600m. The firm also plans to open ten new offices.
Two new funds are scheduled for launch in 2007: an Aureos Central Asia Fund and a new, second-generation pan-regional Aureos Latin American Fund. A new pan-regional Africa fund is also being developed, according to a statement.
The Aureos Central Asia Fund will be a US$120m fund focussing mainly on the Caspian Basin including countries such as Kazakhstan, Uzbekistan and Azerbaijan and will be managed out of a new office in Kazakhstan. The fund is expected to hold a first closing in the first quarter of 2007.
The new pan-regional Aureos Latin America Fund will be a US$300 million fund which will invest in opportunities mainly in Central America, Mexico, Peru and Colombia. The first closing is expected to take place in the second quarter of 2007, with commitments of approximately US$150 million.
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