Recently, we have a seen a number of emerging markets focused private equity fund of funds coming to market, their managers’ seeking capital for their maiden funds to target opportunities in Asia, Latin America, African as well as emerging Europe.
One such vehicle is Avanz EM Partnerships Fund, managed by Avanz Capital, whose founders were formerly senior members of the International Finance Corporation’s private equity fund investment team. The vehicle is seeking to raise a total of $500mn, and will have a core focus on Latin America, Africa and emerging Asia (i.e. excluding-Japan and Australia). It will also secondarily target opportunities in emerging Europe and could invest in the Middle East should the area’s political climate improve.
Another vehicle that’s seeking capital to invest in emerging markets is Latin America Alternatives Fund I. The vehicle, which is seeking $400mn, will target mid-market growth capital opportunities predominantly in Brazil, with around 20-30% of the fund reserved for opportunities in Peru, Chile, and Columbia.
Finally, Arcano Alternative Asset Management is believed to be raising capital for an emerging market focused vehicle – Arcano Emerging Markets fund – which will make private equity investments in Africa and Latin America, investing into or alongside local managers.