Welcome to our new website! Let us know what you think..

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Bob Diamond venture fails to secure $400m

 Bob Diamond venture fails to secure $400m

Ex-Barclays chief executive Bob Diamond (pictured) has failed to raise the full $400 million he was targeting for his African venture.

Diamond's Atlas Mara, a vehicle targeting acquisitions in the African banking sector, is set to raise just over $300 million for its second round, falling below the $400 million it was targeting, according to the Financial Times. Atlas Mara raised $325 million in its initial public offering. The money raised will be used to fund other acquisitions.

The vehicle did its first deal in March, with the announcement that it will buy BancABC, which has a presence across Africa, for $265 million in cash and shares. Atlas also signed a deal to buy a majority stake in the Development Bank of Rwanda through its privatisation.

Leave a comment
Citywire TV
Play Gervais Williams: the real reason to worry about Quindell

Gervais Williams: the real reason to worry about Quindell

Citywire AA-rated manager Gervais Williams has argued that sentiment is the true danger to Quindell.

Play AA-rated Lofthouse: 'maverick' tobacco settlements won't stop M&A

AA-rated Lofthouse: 'maverick' tobacco settlements won't stop M&A

Henderson International Income trust manager Ben Lofthouse shares his thoughts on recent developments in the tobacco sector in this video.

1 Play Renewable energy: what I found on my solar farm trip

Renewable energy: what I found on my solar farm trip

Renewable energy is attracting a lot of investor interest, so I headed to the UK's largest solar farm to find out more.

Your Business: Cover Star Club

Profile: Quilter Cheviot boss Baines sees more consolidation ahead

Profile: Quilter Cheviot boss Baines sees more consolidation ahead

Nineteen months on from the merger of Quilter Cheviot chief executive Martin Baines says the deal is now paying dividends.

Wealth Manager on Twitter