MARC HASENFUSS: Generation private schools are investing in the future
Generation has been funded by Trematon’s cash — but now there is a strong indication that bank funding will be secured
Market perceptions that small-cap investment company Trematon is merely a proxy for Western Cape real estate must change.
Results for the year to end-August for the group — headed by former asset manager Arnold Shapiro and irrepressible property entrepreneur Allan Groll — show a marked (and important) shift in the portfolio spread. Trematon’s private schools business, Generation, now accounts for 30% of intrinsic NAV, up from 22% a year ago.