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LONDON (Reuters) - Private equity fund manager Aureos has closed to new investors a fund investing in small and medium-sized businesses in Africa at a total of $381.1 million, the company said on Monday.
The fund aims to make initial investments of up to $10 million in businesses that have potential to expand across Africa within two to three years, Aureos said in a statement.
It has already invested around $120 million in 10 companies, including an East African milk production firm, a Nigerian biscuit manfuacturer and a cement company in Senegal, it said.
Aureos says it has $1.2 billion under management in over 50 emerging markets in Asia, Africa and Latin America, through 16 regional private equity funds.
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