10X’s purchase of CoreShares will create an index-tracking specialist
The deal will create a broader index-based investment business with combined assets under management of R31bn
12 May 2022 - 15:11
UPDATED 12 May 2022 - 23:23
10X Investments, which is owned by Old Mutual Private Equity and London-based DiGame Investment, has agreed to a cash buyout of CoreShares to create a full-service SA indexing investment specialist with combined assets under management (AUM) of R31bn.
The transaction, announced in a joint statement on Thursday, will see 10X Investments acquire CoreShares from Grindrod subsidiary GFS, which held about 44% of the company, and RMI Investment Managers and Outsurance, which each held stakes of about 26%. The remainder was held by the CoreShares management team...
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