Soon, African Rainbow Capital (ARC) won’t be the only choice of diversified black empowerment plays. The BayHill Transformational Investment Portfolio (TIP) lists on ZARX this month. It will make an intriguing stablemate to the former agricultural co-operatives that are ZARX’s core offering. BayHill started life as a private client fund manager in Durban, but its recent parent company, the Peregrine Group, has more than enough private client capacity through its Citadel brand. Peregrine CEO Rob Katz says BayHill was a logical vehicle for a BEE business, and the African Finance Group under Gil and Vuyo Mahlati became the largest shareholders. Gil Mahlati, now BayHill’s chairman, was a surgeon who specialised in liver transplants, and a veteran of negotiating BEE deals with large companies such as Old Mutual, Nedbank, Aspen Pharmacare and Clicks. BayHill retains a wealth management division, but the main focus will be on the new investment company. The investment committee has an ecle...

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