Sanlam gets approval to buy Catalyst Fund Managers
Competition Commission gives nod for group to acquire a 69% stake in Cape Town company
JSE-listed Sanlam has been given permission to buy a majority stake in Catalyst Fund Managers, a Cape Town-based company that manages listed property investments for institutional and retail clients. Sanlam said in September the deal would help its investments unit to diversify and strengthen its asset management capabilities. It did not disclose the value of the acquisition. “It provides Sanlam Investments with the opportunity to partner with a credible and well-respected business which has a compelling product offering,” Sanlam said at the time. The Competition Commission said on Tuesday it had approved the deal without conditions, meaning that Sanlam Investment Holdings can go ahead with its acquisition of a 69% stake in Catalyst. The commission said the deal was unlikely to reduce competition or the number of jobs in the industry. Founded in 2001, Catalyst originally focused on managing SA-listed property portfolios. In 2007, it started managing global portfolios. “Catalyst Fund...
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