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Weil takes role in Geldof's Africa project
International law firm Weil Gotshal & Manges have snapped up the opportunity to take the lead role on a high-profile fundraising for 8 Miles, the Africa-focused private equity house headed by singer, songwriter, and political activist Bob Geldof.
Bob Geldof: investing in Africa
London-based newspaper Legal Week reports that Weil recruit Ed Gander -- a recent addition from magic circle firm Clifford Chance -- will take the lead role for 8 Miles, a client that has been transferred from CC.
The private equity business is named after the shortest distance between Europe and Africa, and it raised around $200 million in closing its first fund and hopes to secure around $450m to invest, according to Legal Week.
Telecoms investments
The team intends to make about 20 investments of between $15m and $80m in agribusinesses, financial services and telecommunications
The fund has already secured backing from the African Development Bank as well as the International Finance Corporation.
The venture also represents the increasing interest in Africa from the private equity sector. The region’s growing economy has already attracted some major players, including Carlyle Group and Helios Investments.
The development is another confident move from New York-based Weil as the firm continues to increase its profile following the recruitment of four CC partners last summer. As well as Mr Gander, Weil also pinched fund partners Nigel Clark and Nick Benson, and tax partner Jonathan Kandel
The private equity business is named after the shortest distance between Europe and Africa, and it raised around $200 million in closing its first fund and hopes to secure around $450m to invest, according to Legal Week.
Telecoms investments
The team intends to make about 20 investments of between $15m and $80m in agribusinesses, financial services and telecommunications
The fund has already secured backing from the African Development Bank as well as the International Finance Corporation.
The venture also represents the increasing interest in Africa from the private equity sector. The region’s growing economy has already attracted some major players, including Carlyle Group and Helios Investments.
The development is another confident move from New York-based Weil as the firm continues to increase its profile following the recruitment of four CC partners last summer. As well as Mr Gander, Weil also pinched fund partners Nigel Clark and Nick Benson, and tax partner Jonathan Kandel
