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New Sparta launches real estate division and hires MD

New Sparta launches real estate division and hires MD

New Sparta Asset Management (NSAM), the emerging market boutique launched by Ashmore co-founder Dr Jerome Booth (pictured), has hired Jeff Kirby as managing director of its newly launched real estate division.

Kirby has over 33 years’ international experience and prior to joining NSAM, he founded, structured and ran a Central and Eastern European (CEE) real estate development and fund management platform.

He set up, raised and closed two investment funds, one of which was anchored by blue chip institutional investors through a Netherlands based fund of funds.

The group grew to a platform with a Gross Development Value of €2 billion (£1.8 billion) under management, it was later prepared for sale to a company listed on the LSE.

‘Jeff’s experience and energy makes him the ideal person to build a market-leading real estate division within NSAM,’ said Booth who is also CEO at New Sparta Asset Management.

‘He is a highly experienced real estate and investment executive with specialist expertise of building businesses as well as entering new territories and initiating transactions in emerging markets. I feel confident that Jeff’s unique insight and expertise will serve to unlock growth and create sustainable returns.’

Kirby brings Stelian Mitu with him, who has a master’s degree in chemical engineering, an MBA and is a CFA charterholder. He was previously an investment director at a $3 billion (£2.3 billion) New York-based emerging markets fund.

The appointment comes after a series of similar hires following NSAM’s establishment of New Sparta Energy, led by Bill Barry and specialising in the development of renewable power projects in sub-Saharan Africa energy.

Earlier this month, Barry recruited three experts to join his team: David Anson as director and head of development, Richard Scott as project director and Camille Astier as legal director.

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