MONEY MANAGEMENT

New Sparta Asset Management expands global distribution

Mark Weiller joined New Sparta Asset Management as managing director, head of distribution, a spokeswoman said.

The position is new, and Mr. Weiller oversees global distribution efforts for the specialist emerging markets money manager. He is responsible for product management, business development and investor relations. He manages the firm's U.S. presence from New York and San Francisco-based offices.

New Sparta, based in London, focused initially on renewable and conventional energy projects in Africa, but its strategy is not limited by sector or region.

“New Sparta Asset Management will be very focused on serving the U.S. institutional market,” Jerome Booth, chairman of the firm, said in a news release. “Emerging markets are 57% of global GDP using purchasing power parity, and that share continues to increase, which is relevant for investors with long-term liabilities. On these criteria, most institutional investors are massively underweight emerging markets.”

The spokeswoman added other hires will be made in due course, but given that New Sparta is London-based, appointments will primarily be in the London office.

Mr. Weiller previously was global head of consultant relations and corporate treasury at emerging markets specialist Ashmore Group, where Mr. Booth was a co-founder, the news release said. A spokeswoman could not be reached for comment by press time.