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Opalesque Exclusive: Insparo Asset Management launches Africa & Middle East Hedge Fund with $125m, Exotix, Michael Spencer`s IPGL to seed fund London-based Insparo Asset Management is to launch its inaugural offshore Africa & Middle East hedge fund in May. The Insparo Africa and Middle East Fund - will launch in May with an expected US$125 million - offering investors the opportunity to invest in the second fastest growing region in the world where US$ GDP has almost tripled since 2002. The fund’s genuine multi strategy approach allows investors to benefit from all forms of opportunities be it sovereign or corporate and is denominated in multiple currencies.

The fund is run by the firm’s principals, Mohammed Hanif and Francis Beddington, and aims to deliver returns in excess of 15% per annum, whilst broadly avoiding leverage. Francis Beddington told Opalesque: “This is a true multi-strategy fund targeting the frontier markets in Africa and the Middle East. We have unrivalled experience in originating and investing in opportunities that most people will never have heard of, let alone be able to execute.”

The Insparo Africa and Middle East Fund is expected to raise in excess of US$300 million and is targeting traditional hedge fund and institutional investors such as funds of hedge funds, private banks, family offices, HNWIs and pension funds.

The fund has been set up to take account of the very positive growth dynamic in both Africa and......................

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