Global hedge fund to increase investments in Rwanda

During a day off from the campaign trail, President Paul Kagame yesterday met a delegation from Pharo Management Company, a hedge fund that specialises in emerging markets. The delegation, that comprised various teams from London (UK), New York (US) and Hong Kong, was in the country for a retreat in Rubavu. The firm is one of the investors of the $400 million Eurobond issued by Government in 2013 and also has a stake in Kigali Heights. Guillaume Fonkenell, the firm’s managing partner, said they were keen to increase their investments in the country. “We have been investing in Rwanda for a while now. We participated in the $400 million Eurobond that the country issued a few years ago. We have had it in our portfolio since then, we have also been investing in the private sector and are one of the minority investors in Kigali Heights,” he said. Some of the members of the visiting delegation consult among themselves during the meeting at Village Urugwiro yesterday. Without specifying sectors they might be soon venturing into Fonkenell said in the future they want to be more involved in country’s development. “We discussed that. Our goal as professional investors is to continue investing in the country and support future growth,” he said. The hedge fund group was founded in 2000 and specialises in emerging markets it manages several hedge funds with a top-down macro approach. As of May 2017, the firm managed an estimated $8.2 billion out of offices in New York, London and Hong Kong with a staff of over 60 people. Part of the delegation at the meeting. Courtesy. Commenting on the significance of the firm’s interest in the Rwandan market, Minister for Finance. Amb Claver Gatete said that the government is glad to be partnering with the firm. He said that the increased partnership with the firm comes at a time when the hedge fund is increasing its investments on the continent. “These are people who want to partner with us and want to make long-term investments in the country,” Gatete said. editorial@newtimes.co.rw

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Global hedge fund to increase investments in Rwanda