Sparta targets Africa clean power
Investment manager sets up energy arm focused on renewables
Investment manager New Sparta Asset Management (NSAM) has set up New Sparta Energy to develop renewable energy projects in Africa.
William Barry has been hired as managing director to lead the new unit and grow a team of Africa specialists.
New Sparta Energy's role is to advise NSAM on the management of the underlying assets and implementation of an investment strategy.
Barry has over 20 years’ experience as an emerging market-focused financial and business development professional and was previously regional manager, East Africa at eleQtra, a private infrastructure project developer with a focus on Africa.
NSAM chief executive Jerome Booth said: “At NSAM we aim to unlock value in the emerging markets through sector specialism in private markets.
“By bringing together a team of seasoned Africa power experts, we will be able to get involved at a very early, development stage in the investment cycle of projects, thereby giving investors access to superior returns.”
Barry said: “Investors are increasingly eager to invest in the renewable and conventional energy sectors in Africa but have struggled to access suitable opportunities.
“We are excited about working with the strong and growing team at NSE and NSAM to meet such a clear investor demand.”