Watsa's African gambit draws less capital than planned

Fairfax Financial has come up $500mn short in its efforts to
capitalise an Africa-focused investment fund by selling equity in
the venture.
CEO Prem Watsa had initially planned to raise $1bn for the fund,
which had a similar structure to Fairfax India Holdings - a fund
raised two years ago to invest in Indian assets.
"We are humbled to have received $500mn of commitments and
to close the books on the Fairfax Africa offering," Watsa said
today in a statement....