ASSET MANAGEMENT
Capitalworks creates business for Africa
Africa Capitalworks has already secured early support and substantial investment for its $300m fund from UK development lender CDC
Alternative asset manager Capitalworks Group, which is in the throes of a buy-out offer for Uitenhage-based poultry group Sovereign Food, has launched a $300m sub-Saharan Africa investment company. Newly formed Africa Capitalworks would aim at mobilising permanent equity capital in mid-market companies in strategically selected sectors across sub-Sahara Africa, excluding SA, the group disclosed on Thursday. Africa Capitalworks had already secured early support and substantial investment for its $300m fund from CDC, a well-known UK development finance institution, and the Public Investment Corporation, which manages the retirement savings of South African government employees, it said in a media statement. Africa Capitalworks will be led by joint managing partners Beth Mandel and Nana Sao. Mandel has been managing Capitalworks Group’s Africa strategy since 2007, while Sao, who is the founder of Sao Capital, has more than 17 years’ investment experience. Mandel said Africa Capitalwork...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.