Rocker's PE Fund Raises $200M For African Enterprise Growth

Law360, New York (February 13, 2012, 2:07 PM EST) -- 8 Miles LLP, the pan-African private equity firm fronted by Irish rock legend and activist Bob Geldof, has raised $200 million to support enterprise and job creation on the continent, the firm announced Monday.

The London-based 8 Miles Fund has investment pledges from the International Finance Corp., a member of the World Bank; the African Development Bank; the Commonwealth Development Corp., the UK's development finance arm; and several other unnamed institutional and private investors, according to a statement the firm issued Monday.

Fundraising began approximately three...
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