Africa AM Magazine 22 August 2013
Financial services provider La Compagnie Benjamin de Rothschild (CBR), forest company ONF International and the Moringa Partnership have announced a first close over €50m ($66.8m) of the Moringa Fund.
The private equity investment vehicle, which is targeting €100m ($133m) in size, is focusing on sustainable agroforestry projects in Sub-Saharan Africa and Latin America and aims to achieve 10-12% profitability for investors.
Hugo Ferreira, deputy general manager of CBR and chairman of Moringa, said: “We are delighted that the Moringa SICAR has reached its first closing. The forward looking strategy of the SICAR will provide a strong platform on which to develop a portfolio of profitable projects with strong environmental and social credentials.”
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