Rise in Africa focused Funds

The FT reports:

Persuaded that the continent's dominant economies are turning a corner, funds listed on London's Aim, mutual funds, private equity funds and hedge funds are pouring in.
Last week it was Johannesburg-based Pamodzi Investment Holdings that made waves when it announced the launch of a $1.3bn pan-African private equity fund backed by US investors.
Since the start of the year, more than £1bn ($2.03bn) has been raised by private equity funds in London. More is on the way. Since June, three funds, raising close to $400m, have listed on Aim, and the London Stock Exchange says there are likely to be more.
Hedge funds have also been drawn to the region, with higher estimates of their exposure to Nigeria alone running to $1.5bn. Tudor Investments and Millennium Partners are backing newly-listed Africa Opportunities Partners which is seeking, for example, to pick up a stake in a Tanzanian brewery, a fixed line Senegalese telecoms company, an Egyptian insurer, and a West African oil and gas services company.