From Financial Times Via Ventures Africa

Switzerland–based investment bank, Edmond de Rothschild has raised $530 million for its first Africa-focused private equity fund.

Rothschild would raise dedicated funds for Africa alongside U.S.-based Carlyle Group and Dubai’s Abraaj, Financial Times said.

The fund which will be managed by Amethis Finance – a company which operates from Nairobi and Abidjan. It will target small and medium sized companies on the continent. Edmond de Rothschild holds major shares in Amethis Finance.

Rothschild joins the growing list of foreign investors venturing into Africa’s burgeoning middle class and its booming economy.

According to the Economist Intelligence Unit projections for economic growth in 2014, five of the top 12 growing economies in the world will come from Africa. These countries listed are: Sierra Leone, Libya, Eritrea, Zambia and South Sudan.

However, Africa remains cautious of these investments as some Economists warned of profit-driven investors who may want to take advantage of the continent’s growth, without projecting inclusive development causes.

Read more at Ventures Africa