Fairfax launches Africa-focused investment fund

Fairfax Financial, the insurance investment holding company that
last week agreed to buy Allied World for $4.85bn, plans to set up
an investment fund focused on Africa.
The company has registered for an initial public offering of
subordinate shares in Fairfax Africa Holdings on the Toronto Stock
Exchange, saying it has initial capital commitments of $416mn.
Bloomberg reported the plan is to raise $1bn for the
fund, which Toronto-based Fairfax likened to its India-focused
unit, Fairfax India Hold