Ashmore co-founder Booth launches emerging market fund firm

LONDON Ashmore Group Plc co-founder Jerome Booth has launched an asset management firm focusing on emerging markets.

New Sparta Asset Management will initially focus on renewable and conventional energy projects in Africa, the firm said in a statement on Monday.

“New Sparta Asset Management is about private markets in emerging markets,” Booth said.”It responds to the growing need for specialist emerging market investment management that leverages sector knowledge in a private equity-style approach.”

Booth, who retired as head of research at Ashmore in 2013, will chair the investment committee, while former IMF executive Ousmene Mandeng, will head research and development.

(Reporting by Nishant Kumar; editing by Simon Jessop)