WATERLOO, ON, May 19 /CNW/ - Sarona Asset Management announced today that it had successfully completed a first closing of its Sarona Frontier Markets Fund I LP, with over $12 million in investor commitments from 34 limited partners.
The new fund is a global industry first - a private equity fund-of-funds that allows investors an aggressive strategy of financial, social, and environmental targets in developing country markets. Sarona President, Gerhard Pries, suggests that this new fund opens up a whole world of opportunities for private investors. Never before have investors been able to find global diversification across countries, industries and fund managers and high value impact in one instrument. This fund captures the significant developing country upside, and marries it with the human and environmental values that investors crave.
Sarona is thrilled to be a leader in the international impact investment sector. While we've been at it since the early 50's, says Pries, many investors are just now catching a glimpse of the financial opportunity, and the social and environmental impact that is available to them.
Sarona Asset Management is based in Waterloo, ON, and is a co-founder and or manager of a number of impact investment funds, including the Sarona and MicroVest groups of funds. Together, these funds have over $180 million in assets under management in developing and emerging countries around the world.
SOURCE Sarona Asset Management Inc.
For further information: For further information: Gerhard Pries, President, Sarona Asset Management, firstname.lastname@example.org, (519) 883-7557