Edmond de Rothschild has raised $530 million for a new private equity fund that focuses on deals in Africa.
The Africa-focused fund will be managed by Amethis, a company owned by the Edmond de Rothschild, according to Financial Times.
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Additionally, Edmond de Rothschild will partner with US-based Carlyle Group and Dubai-based Abraaj in a move to raise funds for Africa.
Luc Rigouzzo founder of Amethis said that the fund will target minority stakes in small to medium-sized companies.
"Some funds may not invest all the money they raised," he added.
Johnny El Hachem, CEO of Compagnie Benjamin de Rothschild Conseil said: "We are looking for high-return projects but with a strong social development aspect. We came across Luc and Laurent in 2011 and we decided to partner."
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