LG advises newly launched African fund raising $125m
24 July 2007
LG’s Investment Funds team has advised Africa Opportunity Fund Limited (“AOF”) – a newly incorporated Cayman company established to invest in value, arbitrage and special situations opportunities derived from the continent of Africa – on its $125 million fundraising.
AOF raised the new funds in conjunction with an application to have its share capital admitted to AIM. Dealings commenced on 24 July 2007. The assets of AOF will be managed by Africa Opportunity Partners Limited, a newly formed investment management company.
The LG team advising AOF consisted of corporate finance partner Nick Heather and corporate associates John Reed and Kristian Rogers.
Commenting on the deal Nick said: “The AIM market has seen funds launched to invest in a myriad of interesting asset classes and jurisdictions. I think that Africa is “underweighted” in this regard and it is exciting that we are involved in a fund launch with managers who have a proven record of investing in Africa.”
The nominated adviser was Grant Thornton and the broker was LCF Edmond de Rothschild Securities Limited. Both were represented by SJ Berwin.
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LG is a business law firm, advising clients around the world. Our base is in London like our clients, our reach is global. Our clients’ businesses are complex and fast-changing, so our services are flexible to meet their needs.
LG has advised on over 200 AIM transactions, helping clients to raise over £2 billion new funds.
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