New Sparta Asset Management (NSAM), a specialist emerging market investment manager established by Dr Jerome Booth, has made three senior hires at New Sparta Energy (NSE), a fully owned subsidiary which specialises in the identification, development, construction and operation of power projects in Africa, with a focus on renewable energy.
Its role is to advise NSAM on the management of the underlying assets and implementation of the investment strategy.
David Anson has been hired as Director and Head of Development, Richard Scott as Project Director and Camille Astier as Legal Director. All three are based in London and will report to Managing Director William (Bill) Barry, whose appointment was announced in May.
Anson has 25 years’ experience in developing and financing power projects, mainly in emerging markets. Most recently he was the Regional Manager in charge of Southern African project development and investment opportunities for eleQtra, a sub-Saharan Africa focused project developer. Prior to eleQtra, Anson spent over 20 years with AES Corp where he held a variety of positions in Africa, Europe and Asia covering the development and project financing of power projects from inception through to commercial operations. During this period he was responsible for development and financing teams that successfully raised over USD600m in a number of project finance transactions for thermal, hydro, wind and solar PV power projects.
Scott has 14 years of project development and financing experience, gained mainly in emerging markets, with extensive periods spent living and working in Asia, the Middle East and Africa. He joins NSE from Joule Africa where he was a Developer focused on developing hydro power projects in West Africa. Prior to this, Scott worked at private equity firm Berkeley Energy, where he supported the development and financing of a number of hydro and wind investments in India and the Philippines, and helped raise the USD200m Africa Renewable Energy Fund (AREF).
Astier has over 15 years’ legal experience. The majority of her career has been spent working for leading international law firms advising both financial sponsors and lenders on multiple leveraged finance, emerging markets and other cross border transactions. More recently she was the General Counsel at AREF, the first private equity fund solely dedicated to renewable energy in sub-Saharan Africa, where she was responsible for all legal matters relating to the fund and its investments.
Bill Barry, Managing Director at New Sparta Energy, says: “I’m pleased to welcome three seasoned emerging markets experts to New Sparta Energy. They have exceptional knowledge and practical experience in developing and financing power and renewable energy projects in Africa, including multiple financial closings. This is invaluable as we seek to apply our project origination, structuring and financing skillset from early stage project development up to financial close, and in the process provide investors access to superior returns.”
“It is clear that private investors are beginning to understand the advantages of investing in renewable and conventional energy in Africa and are clamouring for access to bankable projects in the sector. I am pleased that NSE is going some way to meet such clear demand.”
Jerome Booth, CEO at New Sparta Asset Management, adds: “I am looking forward to working with Bill, Dave, Richard and Camille. We see real opportunity in building power generation capacity in Africa and, with the appointment of these three senior hires, NSE is well placed to become a leader in this sector.”
