Osman Semerci and Duet Group Announce Acquisition of New Star Assets with Launch of Active Africa Fund

The New Fund Seeks to Deliver Consistent Capital Appreciation Through Active Management in the Value of Fund Assets

London, England (PRWEB) June 25, 2009 -- Osman Semerci, CEO of the Duet Group, a global financial firm specializing in Alternative Asset Management, announced today the firm has launched its Duet Africa Opportunities Fund after raising fresh capital for the strategic acquisition of assets in New Star's Heart of Africa Fund. This new fund seeks to deliver consistent capital appreciation through active management in the value of fund assets.

Dr. Ayo Salami

Duet has been able to raise capital for the new fund in a short amount of time, proving investor interest in Africa, even in current global conditions

African companies face the anomalous situation of falling share prices and rising earnings growth. African stock markets, which fell an average of 50% last year, face a significant re-rating once global investor panic has subsided.

The index focuses on large companies in sub-Saharan Africa excluding North and South Africa, with a minimum market cap of $250 million. Currently comprising 74 companies, it gained 64% in 2007 and dropped 54.51% last year

"Duet has been able to raise capital for the new fund in a short amount of time, proving investor interest in Africa, even in current global conditions," said Salami. "African companies face the anomalous situation of falling share prices and rising earnings growth. African stock markets, which fell an average of 50% last year, face a significant re-rating once global investor panic has subsided."

This is Duet's second African offering, which has around $2 billion under management in global hedge funds, funds of funds and private equity. It offers monthly liquidity and 90 days notice, with a minimum investment of $1 million. "The index focuses on large companies in sub-Saharan Africa excluding North and South Africa, with a minimum market cap of $250 million. Currently comprising 74 companies, it gained 64% in 2007 and dropped 54.51% last year," said Osman Semerci.

Duet has also launched a Middle East North Africa fund, a multi-strategy fund managed by Rabih Sultani in Dubai.
New Star's Heart of Africa Fund, managed by Jamie Alsopp was suspended in December after liquidity problems and was hit by withdrawals as the listed global group suffered last year. The firm was acquired by Henderson Global Investors in January.

About The Duet Group:
Duet Group is a client-focused financial group specializing in Alternative Asset Management that is dedicated not only to generating superior investment returns, but also to delivering risk management, transparency and client service required by sophisticated investors. Duet Group was founded by Henry Gabay & Alain Schibl in June 2002 in London and has USD 2 billion of equity under management. Osman Semerci joined as Duet Group CEO and Managing Partner in April 2008.

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