Article: Swedish Kinnevik to invest USD 15m in new West African private equity fund.

(ADPnews) - Aug 25, 2009 - Swedish company Investment AB Kinnevik (STO:KINV B) said Tuesday it has committed to invest a total USD 15 million (EUR 10.5m) in a new West African private equity fund, to be set up together with a Nigerian partner.

Kinnevik will hold 30% in the fund's manager ARM Capital Partners and its partner, Asset & Resource Management Company Ltd (ARM), will control the remainder.

The fund is due to be launched this autumn and the partners have committed to invest USD 15 million each.

In addition, the fund is currently working to raise capital from local and international third parties with interest in the region.

The ...

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