Ashmore Group co-founder Jerome Booth has launched a specialist emerging market investment manager.
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Dubbed New Sparta Asset Management, the new group will invest throughout emerging markets though its initial focus will be on renewable and conventional energy projects in Africa.
Booth will assume the role of the chairman and chair of the investment committee of the new group.
Mark Weiller, who spent a decade at Ashmore, has been appointed as head of distribution, while former International Monetary Fund senior official Ousméne Mandeng has been named as head of research and development of the new company.
Commenting on the new launch, 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."
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