Norfund and CDC Capital Partners launch Aureos Capital

Emerging markets private equity specialist CDC Capital Partners and Norfund, the state funded Norwegian investment fund for developing countries, have launched Aureos Capital, an alliance targeting risk capital investments in the small- and medium-sized enterprise sector in developing countries. The new fund management company will take forward, build and manage an existing family of 14 country funds in Central America, Africa, South Asia and Pacific Islands, developed by CDC over the past four years. The committed capital of these funds is $175m, with CDC as the largest single investor with $59m committed. Norfund plans to co-invest a further $50m along-side other investors in the coming years, by taking stakes in follow-on investments and new SME funds, which will be managed by the Aureos Capital group. The group's operations will be led by a London-based management team, with Thorbjørn Gaarder as managing director and Michael Ellen as operations director.

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