The weird and the wonderful in ‘private-equity-type’ discounts
The deep discounts offered on listed ‘private equity-type’ counters look attractive. But make sure the value propositions for unlisted interests are well understood
ETHOS CAPITAL Share price: 724c JSE Code: EPE
BUY Ethos Capital, which listed in 2016, offers a very diverse portfolio of unlisted investments that are held in funds or co-investments managed by the highly regarded team at Ethos Private Equity. Positions include fintech business Channel VAS, broadcast group Primedia, industrial group Waco, vehicle components group AutoZone, internet service provider Echo, bottler Bevco, traditional beer-maker Chibuku and analytics group Synerlytic (the old Torre) as well as familiar names like MTN Zakhele Futhi and Twinsaver.