Home ECONOMY Kuramo invests Sh535m more in Centum-owned fund manager

Kuramo invests Sh535m more in Centum-owned fund manager

by biasharadigest
Capital Markets

Kuramo invests Sh535m more in Centum-owned fund manager

Kuramo co-chief executive Shaka Kariuki
Kuramo co-chief executive Shaka Kariuki. PHOTO | SALATON NJAU | NMG 

New York-headquartered Kuramo Capital has inked a deal with Centum #ticker:CTUM-owned Nabo Capital committing to invest a further Sh535 million ($5 million) in the third-party fund manager.

The follow-on commitment agreement brings Kuramo’s commitment in Nabo to Sh1.07 billion, according to the statement released by the two firms.

The private equity firm, with regional offices in Nairobi and Lagos, focuses on sub-Saharan Africa, while Nabo manages assets on behalf of largely institutions and high-net-worth individuals in East Africa.

Kuramo co-chief executive for its Nairobi office Shaka Kariuki said the decision was largely driven by the opportunity for growth in returns within public and private equity markets in sub-Saharan Africa.

“Kuramo’s initial investment in Nabo was informed by the manager’s pan-African, proprietary investment process and philosophy developed over several years of investing in different stock exchanges,” said Mr Kariuki in statement.


“We deploy capital into various funds, private and public equity opportunities we deem high potential and manager’s (Nabo’s) ‘boots-on-the-ground’ approach and distinctive strategy has delivered great returns that have affirmed our confidence in the team.”

Kuramo has made a series of investments in recent years, including a 25 percent stake in listed infrastructure-focused investment firm TransCentury #ticker:TCL , a 90.4 percent shareholding in GenAfrica Asset Managers and a minority stake in investment bank Sterling Capital.

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