Kagiso Asset Management changes ownership structure, name
Kagiso Asset Management has undergone a corporate restructuring and changed its name to Camissa Asset Management (CAM).
Co-founder and CEO Roland Greaver says the time is opportune for such an exercise as the business is on a strong growth trajectory.
He explains that the restructuring will see founding shareholder Kagiso Tiso Holdings selling its 50.1% share in the business to a combination of management and staff, as well as a company called Sinayo Capital.
CAM’s management and staff will, therefore, have control of the business with a joint 74% shareholding, with Sinayo owning a minority stake of 26%.
CAM co-founder Gavin Wood says the company’s clients will benefit from the greater alignment of interest with key professionals that stem from the increased staff shareholding.
“Staff ownership promotes a long-term orientation and vision, which aligns well with our high conviction, active investment approach. It has also assisted our team to be remarkably stable over the last two decades. This transaction will bolster our ability to continue to retain the best professionals in the market,” he adds.
The Sinayo Capital stake brings with it boosted broad-based black economic empowerment credentials, through direct black female ownership.
Sinayo CEO Babalwa Ngonyama says it aims to increase the involvement of women in financial services and this transaction is welcomed as deeply transformative in an industry that still has a long way to go.
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