Nairobi, Aug. 2 -- Fund manager Nabo Capital will continue operating as an independent entity even after its acquisition by Rock Investment Bank in June.

The leadership of the acquirer says both entities will remain focused on their areas of expertise, where Nabo is envisioned to rise into becoming a major fund manager in the market, while Rock focuses on the advisory business.

Kenya-based Rock Investment Bank acquired a controlling 60 percent stake in Nabo Capital from Centum Investment Company in a deal estimated at Sh271 million.

The deal marked a significant expansion by Rock under managing director Belgrad Kenne, who led the advisory work on the Kenya Pipeline Company (KPC) initial public offering in March this year.

"Nabo and Ro...