Bob Geldof Founded A Private Equity Firm To Mark The 30th Anniversary Of Live Aid

So that's nice.

Just because Bob Geldof got the Boomtown Rats back together a couple of years ago doesn’t mean he hasn’t got time for new friends—like Henry, George, Steve and P.T.J.

KKR & Co., the New York-based private-equity firm, last summer bought control of a rose farm, Afriflora, for about $200 million, its first investment in Africa. Blackstone Group plans to build a $1.35 billion pipeline to bring gasoline to the capital, Addis Ababa. Hedge-fund manager Paul Tudor Jones is backing a $2 billion geothermal power project.

The investors are following in the footsteps of Irish punk rock singer turned activist Bob Geldof, whose Live Aid concerts 30 years ago this summer raised about $145 million for the victims of a devastating Ethiopian famine. Mr. Geldof now chairs 8 Miles LLP, a London-based private-equity firm that invests in Ethiopia.

Rock Star Bob Geldof Spearheads U.S. Private-Equity Push Into Ethiopia [WSJ]