Wiese-linked Stellar Capital sells off Cadiz
Cadiz has been sold to Cape Town-based wealth management business Warwick, which is headed by former Appleton prime mover Ian Kilbride
Stellar Capital Partners (SCP), the investment company that has investment tycoon Christo Wiese as a major shareholder, has sold small asset management business Cadiz for an undisclosed sum. A statement released on Wednesday said Cadiz had been sold to Cape Town-based wealth management business Warwick, which is headed by former Appleton prime mover Ian Kilbride. Appleton was briefly listed on the JSE in the late 1990s before being bought out by PSG Asset Management with certain parts remaining behind in IMR, which eventually formed the basis for Conduit Capital. SCP CEO Peter van Zyl said the company had recently reviewed its future strategic direction and focus. “We have been looking for the right strategic partner for Cadiz and the sale of Cadiz Asset Management to Warwick represents a very positive and important step for the future of Cadiz.” He said Cadiz had earned a reputation for the development of innovative structured financial products, hedge funds and money market fund e...
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