Actis: $2.9 bln fund targets emerging markets

CAIRO: Private equity firm Actis announced this week the creation of a private equity fund worth $2.9 billion.The fund, for which Actis executives have been working to raise money since 2004, exceeded its target of $2.5 billion. It was named Actis Emerging Markets 3 (AEM3) and will be dedicated to investing in emerging markets around the world.“We had an original target of $2.5 billion and we’ve raised $2.9 billion. So we’re really pleased because this is a really good endorsement of the...