Silk Invest Limited announces partnership with Rosemont Investment Partners, LLC to further scale up its business
July 8, 2013 – LONDON, England and WEST CONSHOHOCKEN, PA – Silk Invest Limited (the “Company” or “Silk Invest”) and Rosemont Investment Partners (“Rosemont”) are pleased to announce that Rosemont has made an equity investment in Silk Invest and the investment proceeds will enable the Company to continue the expansion of its leadership position within the frontier markets as the firm opens new offices and launches new products into North America and other markets outside of its original European base. Silk Invest will remain fully independent and majority owned by its management team and partners. Rosemont, a private equity boutique focused exclusively on making investments in asset management companies, will own a minority stake.
Silk Invest has three independent investment teams for public markets equities, fixed income and private equity. It manages approximately $200 million in four different frontier equities strategies; a frontier fixed income fund and an African Food & beverages private equity fund. The primary investment focus is on in Africa, the Middle East and Frontier Asia with an emphasis on having local presence in the target regions. Silk Invest has pioneered investment strategies that capture consumer-driven trends in these markets and was also the first firm to launch a dedicated frontier fixed income fund in Europe.
Silk Invest was founded in 2008 in London by Zin Bekkali and a veteran team of investment professionals with proven expertise in investing in frontier and emerging markets. Seasoned asset managers Daniel Broby and Dr. Waseem Khan lead the company’s public markets and private equity teams. The team’s investment process incorporates seasoned institutional managers with local market expertise, representing 14 frontier countries, 18 languages and operating from offices in London, South Africa, Egypt, Morocco, UAE, Kenya and an upcoming local presence in Nigeria.
Zin Bekkali, Silk Invest’s CEO and Group CIO, commented on the transaction:
“Since launching the Company in 2008, our team, the majority who are from frontier markets, has established Silk Invest as an institutional specialist in frontier markets with track records of competitive performance and lower volatility. We aligned our investment processes with our positive macro convictions and we have pioneered consumer focused investing in these markets. We are excited by the opportunity to grow our company and enhance our client offerings as a partner with Rosemont. It was important for us to find a capital partner that would reinforce our independent boutique model and entrepreneurial culture of employee ownership.”
David Silvera, Managing Director of Rosemont, noted:
“We are excited to have the opportunity to work with the accomplished and diverse group of professionals at Silk Invest. We have come to know and respect the investment process and discipline of the team and we look forward to working with them as they continue to grow the company and serve their clients’ needs with a compelling and differentiable suite of frontier investment capabilities”.
About Silk Invest Limited
Silk Invest Limited is an employee-owned boutique investment firm that provides frontier market investment products to a variety of clients across the globe. The Company’s investment team has worked together since 2008 and brings a unique set of qualifications to investing in frontier markets. Silk Invest’s proven innovation and investment expertise with a “boots-on-the-ground” presence allows its clients to benefit from a range of investment capabilities while opening new opportunities across asset classes and frontier regions.
For more information, please visit www.silkinvest.com.
About Rosemont Investment Partners, LLC
Rosemont Investment Partners, LLC is a private equity firm focused exclusively on making investments in asset managers. Rosemont was formed in May 2000 to provide capital to fund management buyouts, recapitalizations and selected start-ups in the asset management industry. In addition to providing capital, the principals of Rosemont assist management in growing their companies by leveraging their decades of experience in advising asset management businesses.
Silk Invest is Rosemont’s 25th investment. Rosemont has built an excellent track record of assisting investment managers to achieve successful growth. Examples of Rosemont’s capabilities include:
- Rosemont provided financial backing and strategic support to Silvercrest Asset Management’s team with their launch in New York 2001. The firm grew from a de novo wealth management business to become a leading wealth management boutique with over $8 b before Rosemont’s exit in 2007. Today Silvercrest manages over $13 billion in assets and is publicly-listed.
- Rosemont helped launch Champlain Investment Partners as a start-up US small cap core equity boutique in 2004. The Company grew to over $3.1 billion by the time Rosemont exited in 2008. Today Champlain manages $5 billion in AUM and is 100% employee owned.