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New York-based PE fund buys stake in Kenyan broker
Kuramo Capital chief executive Shaka Kariuki (left) and Sterling Capital chairman Stanley Ngaine during the signing of the deal in Nairobi. PHOTO | SALATON NJAU | NMG
New York-based Kuramo Capital, TransCentury’s single-largest shareholder, has purchased a stake in stockbrokerage firm Sterling Capital.
Kuramo and Sterling both declined to disclose the value of the transaction. They did not also reveal whether the purchase is exclusively equity, debt or a mix of both or even its anticipated closing date.
