Ethos raises $800m for investment in SA businesses
Ethos Private Equity has raised $800-million in its latest fund for investment in medium to large businesses in South Africa.
The private equity firm on Wednesday revealed that its Fund VI exceeded fundraising expectations, despite challenging global financial markets.
“The fundraising market has been tough. Investors are constrained. They are looking beyond the developed markets for pockets of growth and have identified South Africa as an investment opportunity.
“Owing to its proximity, investors also recognise South Africa's potential as a gateway into the rest of sub-Saharan Africa. Our investors believe that Ethos has the expertise to deliver on these prospects," Ethos CEO Andre Roux stated.
He added that Fund VI secured blue-chip investors, expanding Ethos’ investor base geographically and by investor type. The firm’s investor base spans four continents.
Fund VI's investment strategy will focus on investing alongside experienced management teams into medium to large businesses.
“Ethos has a disciplined investment strategy. We have over 25 years of successful investment history in over 100 deals. Investors recognise that long-term value can only be created by active managers, with a commitment to building better, more sustainable businesses,” Roux comments.
The fund is being deployed predominantly in South Africa and selectively into the rest of sub-Saharan Africa. It has already made two investments.
“The prospective investment pipeline is healthy,” the firm stated.
“Ethos anticipates a busy year ahead, due in no small part to the concurrent deal making in Fund VI and the maturing Fund V portfolio. Our team is actively pursuing multiple opportunities. We are very much open for business,” added Ethos investor relations head Ngalaah Chuphi.
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