Jerome Booth creates emerging markets private equity firm

Emerging markets signJerome Booth, one of the most enthusiastic investors in emerging markets who co-founded Ashmore Group, has launched an emerging markets private equity firm called New Sparta Asset Management (NSAM).

NSAM’s initial focus will be on renewable and conventional energy projects in Africa and Booth is the firm’s chairman and presides over the investment committee.

Booth’s retirement as head of research at Ashmore was announced in May 2013. About a year later, the successful firm – which floated on the London stock market in 2006 – became the target of short sellers after the US started to taper its quantitative easing programme and investors increased their investment in developed markets.

Joining Booth at NSAM are Ousméne Mandeng, a former senior International Monetary Fund official who has also worked in investment banking and asset management. Mandeng becomes NSAM’s head of research and development and an investment committee member.

Liam Halligan, economist and writer, becomes a member of the investment committee, as does Chris Raeder, who also works as NSAM’s general counsel.

Booth says the firm will invest in private equity in emerging economies.

“The NSAM team and I have built incredibly strong local networks over the years. Combined with early-lifecycle development experience, we will use our insight and expertise to unlock growth and create sustainable returns,” says Booth.

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