US private equity firm Rosemont Investment Partners has bought a minority stake in London-headquartered frontier markets specialist asset management boutique Silk Invest.

Silk Invest will remain fully independent and majority owned by its management team and partners, the firm said in a statement.

Silk Invest said the investment proceeds will enable the company to continue the expansion of its position within the frontier markets as the firm opens new offices and launches new products into North America and other markets outside of its original European base. 

Silk Invest has three independent investment teams for equities, fixed income and private equity. It manages approximately $200 million in four different frontier equities strategies with a primary investment focus on Africa, the Middle East and Asia.

"We are excited by the opportunity to grow our company and enhance our client offerings as a partner with Rosemont. It was important for us to find a capital partner that would reinforce our independent boutique model and entrepreneurial culture of employee ownership,” said David Silvera, managing director of Rosemont.