Reuters
Specialist frontier market investment manager Silk Invest said it would soon close on a 150 million euro private equity fund for
Africa, which it plans to invest in food processing, storage and distribution.
Silk, which already has total assets under management worth 130 million euros, plans to deploy the African Food Fund into Nigeria, Ghana, Ethiopia, Kenya and Egypt, said chief investment officer Daniel Broby.
"We are not wanting to own agricultural land, but we want to build the infrastructure around that, because we see that as the greatest opportunity," he told Reuters.
Private equity firms are shy of investing in tracts of land because of the large outlay they require and instead prefer to build the infrastructure that will be needed
to increase the yield from the land, he said.
The firm is investing in biscuit and water companies with its first fund, Broby said.
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