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New Sparta launches real estate division and hires MD

Emerging_markets_signEmerging markets investment manager, New Sparta Asset Management (NSAM), has launched a real estate division and hired Jeff Kirby as its managing director.

The division will initially focus on India and East Africa using specific strategies for those regions.

Prior to joining NSAM, Kirby founded, structured and ran a Central and Eastern European real estate development and fund management platform, European Future Group.

Kirby brings Stelian Mitu with him. Mitu was investment director at a $3 billion (€2.5 billion) New York-based emerging markets fund, Silverlight Capital.

Kirby said emerging market real estate private equity was an “untapped” opportunity, particularly amongst companies in the pre-initial public offering stage.

The real estate launch follows NSAM’s establishment of New Sparta Energy led by Bill Barry and which specialises in the development of renewable power projects in sub-Saharan Africa Energy.

Earlier this month Barry recruited David Anson as director and head of development, Richard Scott as project director and Camille Astier as legal director.

NSAM was founded in 2015 by well known emerging markets investor, Jerome Booth, who previously established Ashmore Group.

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