EM boutique establishes Africa infrastructure branch
London-based investment firm New Sparta Asset Management (NSAM) has set up a subsidiary New Sparta Energy (NSE) specialising in the development of renewable power projects in Africa.
NSE will advise its parent company on the management of the underlying assets and implementation of the investment strategy.
William Barry has been appointed as NSE’s managing director to lead and grow a team of Africa experts with specialist investment, development and project management expertise in the energy sector.
Prior to joining NSE, Barry was regional manager, East Africa in charge of all local project development and investment opportunities for eleQtra, an Africa focused private infrastructure project developer.
He joined eleQtra in 2013 from ContourGlobal, an emerging market focused developer, operator and owner of electric power businesses, where he was senior vice president and head of Global Construction Projects, as well as vice president of Business Development responsible for Latin America, Sub-Saharan Africa and Europe.
He previoulsy held positions at Moody’s Investors Service and Merrill Lynch.
Jerome Booth, CEO of NSAM said: “Since launch, we have been very vocal about the fact that we see real opportunity in the building power generation capacity in Sub Saharan Africa.
“We believe investors should be investing a lot more in private markets in emerging markets, not just to enhance returns but to reduce risk in a world where developed world assets are increasingly at risk of highly correlated losses. This requires a different understanding of risk and asset allocation, moving beyond an analysis dominated by past price behaviour in liquid markets, to look at longer term growth areas and uncorrelated returns.
“At NSAM we aim to unlock value in the emerging markets through Sector Specialism in private markets. By bringing together a team of seasoned Africa power experts, we will be able to get involved at a very early, development stage in the investment cycle of projects, thereby giving investors access to superior returns.”