Ashmore’s co-founder launches New Sparta
Jerome Booth, economist, entrepreneur and co-founder of Ashmore Group plc, has announced the launch of New Sparta Asset Management (NSAM) an emerging market investment manager.
While NSAM’s strategy is not limited by sector or geography, its initial focus is on renewable and conventional energy projects in Africa.
Booth will become chairman of NSAM and will also chair the Investment Committee while Ousméne Mandeng, a former senior IMF official who also had senior positions in leading investment banks and asset management firms, will become NSAM’s head of Research and Development and a member of the Investment Committee.
Announcing the new company, 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.
NSAM has also entered into a joint venture agreement with London based FCA and AIFMD authorised Tower Gate Capital Limited, which provides management and regulatory support to NSAM.