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GEPF, PIC sign new development investment mandate

3rd May 2022

By: Schalk Burger

Creamer Media Senior Deputy Editor

     

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The Government Employees Pension Fund (GEPF) and the Public Investment Corporation (PIC) have signed a new unlisted developmental investment mandate, which focuses on South Africa and the rest of Africa.

The target of developmental investments for South Africa is between R300-million and R500-million per entity although attractive investments starting at R100-million will also be considered per entity.

The rest of Africa developmental investment portfolio will mainly include investments of between $20-million and $40-million.

The developmental investment funds are aimed at generating financial and socioeconomic benefits by addressing structural imbalances in the economy to facilitate transformation, economic growth, job creation and environmental and financial returns.

The PIC encourages interested institutions to submit proposals. Proposals will be assessed in accordance with the prescripts of the funding guidelines of each mandate.

The GEPF first introduced the unlisted developmental investment mandate in 1997 under the name Isibaya Fund and has subsequently renewed it over the years.

The GEPF has assets in excess of R2.1-trillion, which are managed by the PIC.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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