New York-based equity fund Kuramo Capital has bought a minority stake in Kenyan investment bank Sterling Capital. Sterling Capital is currently expanding its local and regional business. The investment bank was founded in 1994 by Stanely Ngaine (currently the chairman) and operates in equities, fixed income trading and advisory services. The business has 25 employees and was ranked the second-largest bond trader in the country raising its market share to 15% in 2016. The company is planning to also expand its service offering within the advisory arena. The acquisition amount is undisclosed.