Aureos Capital cuts ownership ties

Energing markets specialist Aureos Capital is reported to be cutting its parental ties with Norfund and CDC Capital Partners. Together, the two own 51%. The remainder is owned by Frontier Investments LP, an investment vehicle owned by Aureos' employees.

Aureos Capital was established in 2001 by Norfund, the Norwegian Investment Fund for Developing Countries, and the UK government-owned CDC Capital Partners.

Aureos is a specialist private equity manager in small and medium sized companies in emerging markets. It has funds in Africa, Asia and Central America. Of the 139 portfolio companies it inherited from CDC, 120 are now sold, returning about $105m to its investors. Aureos currently has $470m under active management. The firm enhances its exit potential through a buy-and-build strategy.

The fund now plans to widen its investor base, which currently consists of 75% development finance organisations such as the International Finance Corporation, part of the World Bank Group. In the future, the fund aims for a 50/50 divide between these investors and local and international private capital.

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