KLEOSS Capital, a newly created 100% black-owned private equity firm, has acquired a controlling stake in packaging firm TrenStar and expects to complete two more deals within the next few months.The TrenStar acquisition by Kleoss Capital comes after an exit by another private equity firm, Vantage Capital, and an empowerment partner, African Women Chartered Accountants Investment Holdings.Kleoss Capital, led by chartered accountants and former career bankers Hale Matsipa, Andile Keta and private equity practitioner Zain Laher, is on the verge of closing its first fund, Kleoss Fund I.The private equity firm was set up in 2014 after its founders left cushy jobs, took salary cuts and invested a portion of their own personal cash.Explaining its fund size, Mr Matsipa said: "We are currently on R590m. We think we will get to between R800m and R1bn at close."We have recently concluded two due diligence processes in different sectors and we will hopefully close in the next few months."Kleos...
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