Preqin’s comprehensive Fund Manager Profiles product reveals there are 64 private equity firms based in South Africa. The most popular strategy for these firms is buyout, with 25 undertaking this strategy either exclusively or as part of a broader strategy, and this is followed by 19 firms pursuing growth investments as part of their strategy. Sixteen South Africa-based fund managers carry out venture deals and only two are active in natural resources investing. Collectively these 64 firms have raised $7.4bn in the last 10 years and have an estimated $1.8bn available in dry powder.
The top five South Africa-based fund managers by aggregate capital raised over the last decade are Pamodzi Investment, Brait Private Equity, Ethos Private Equity, Absa Capital Private Equity and Kingdom Zephyr.
Pamodzi Investment is based in Athol and focuses on natural resources investments in Africa. Established in 1996, the firm has raised $1.3bn over the last 10 years and has an estimated $264mn in dry powder.
Brait Private Equity is headquartered in Illovo, Johannesburg, and focuses on control investments (majority or significant minority) in companies located principally in South Africa. The main industries it concentrates on are consumer products and services, healthcare, manufacturing, media and communications, and resources. The firm has raised $869mn over the last decade with $119mn estimated in available dry powder.
Ethos Private Equity pursues medium to larger South African buyouts, expansion of good quality businesses and niche privatisation opportunities. The firm is involved in proprietary software and services investment opportunities in the South African internet, wireless and mobile, general IT and general technology sectors. Over the past 10 years the firm has raised $770mn in aggregate capital and has approximately $140mn in dry powder.