Aureos Capital, emerging markets private equity fund manager, has launched a new US$100 million Central Asia Fund. The fund will focused primarily on Kazakhstan and Azerbaijan.

Apart from Kazakhstan and Azerbaijan, the Central Asia Fund team will also consider investments in the Kyrgyz Republic, Georgia, Tajikistan, Turkmenistan and Uzbekistan. Investments will range from US$2 million to US$10 million.

Sev Vettivetpillai, chief executive of London-based Aureos Advisers, which provides funds advisory services to Aureos Capital, said, “Central Asia’s economy is expanding rapidly and medium-sized businesses are seeing more opportunities as a result, so we are excited about the fund.”

Aureos provides expansion and buy-out capital to unlisted mid-cap businesses in emerging markets.