Business Day South Africa – Examiners with the US Federal Reserve have questioned Wall Street counterparties about their exposure to debt and other holdings of Citadel Investment Group, The Wall Street Journal reported at the weekend.

Citadel denied the report.

Citing people familiar with the matter, the j ournal said the Fed questioned the counterparties in at least two instances in recent days.

But Katie Spring, a spokeswoman for Citadel, denied the rumours that the Fed had spoken to the hedge fund’s counterparties specifically about Citadel and possible problems with its debt.

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Business Day – Private equity firm Actis says equity funds have embraced investing in Africa because many governments have instituted market reforms which are creating opportunities for brave investors willing to take a long-term view on Africa.

“There is increased private equity interest in the continent, illustrated by numerous new (private equity) funds being raised for Africa," Peter Schmid, head of Actis Africa, said yesterday.

His firm recently led a consortium to acquire Alstom South Africa, a big electrical engineering, manufacturing, distribution and contracting business, for R5,16 bn.

Analysts say the lure of emerging markets in countries such as Russia, China and India, and now Africa, has grown stronger after the bruising credit crunch in the US and Europe.

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