February 02, 2012
Weil advised 8 Miles, the Africa-focused private equity house founded by Sir Bob Geldof and named after the shortest distance between Europe and Africa, on the raising of its inaugural fund. 8 Miles Fund I raised approximately $200 million at the first closing to invest in agribusiness, consumer and retail, health, telecoms and financial services, seeking partnerships with leading entrepreneurs and management teams. To date, the fund has secured financial backing from a number of institutional investors, including the African Development Bank, CDC (the UK's development finance arm) and the International Finance Corporation (the World Bank’s private sector arm).
“To sum up what Gander gives you throughout a fundraising – it’s leadership, insight, integrity and commitment. I trust Ed to go into a room on my behalf and get the job done,” remarked Sir Bob Geldof.