CAM Private Equity, the European fund-of-funds manager, has teamed up with
New York-based group Newmarkets Partners to launch a fund-of-funds for
investment in emerging markets.
The fund’s structure will allow investors to specify which regions they want to invest in, so they can choose to have a global exposure or to target particular regions.
Tomoko Tatara, co-founder of Newmarkets, said the advantage of this type of investment was the companies would not need to set up different funds in order in order to invest flexibly in different markets, she added.
The companies will begin marketing the fund in May, with a planned first close in May 2008 and a final close in May 2009. The target for the fund will be around $400 million (€298 million) with an hard cap of $500 million.
Tatara said about half the money in the fund will go towards Asian markets. It will also consider investing in other emerging markets, depending on the quality of GPs available.
CAM currently manages around $3 billion and has a team of over 30 professionals specialising exclusively in private equity fund investments.
Tomoko Tatara and Marie-France Mathes founded Newmarkets after working together at IFC’s Private Equity & Investment Funds Department. They have also worked at Bank of Tokyo-Mitsubishi, Baring Private Equity Partners, Paribas Capital Markets and the World Bank.