Alternative asset manager Ethos Private Equity has entered into an agreement with JSE- and LSE-listed investment manager Ninety One to take on an advisory contract for Ninety One's Africa Private Equity funds.
Ninety One's two Africa Private Equity funds hold seven assets with a broad pan-African footprint and that invest in a diverse range of sectors, including telecommunications, retail, private education, financial services and logistics.
Ninety One will maintain control and oversight of the portfolio, while Ethos will manage the assets.
Ethos, which manages or advices on 30 active investments across eight funds, says the agreement with Ninety One significantly extends its platform across Africa.
“This agreement with Ninety One is a strong endorsement of the Ethos platform and marks a significant milestone as we expand our activities on the continent in line with our pan-African diversification strategy.
"Ethos is committed to leveraging its private equity expertise to support the African recovery journey and play its part in helping stabilise the sector post Covid-19," comments Ethos CEO Stuart MacKenzie.
“The decision to engage an adviser for our Africa Private Equity funds is in line with our commitment to simplifying our business, while pursuing better outcomes for our limited partners.
"We are pleased to secure Ethos’ investment advisory expertise for our Africa Private Equity assets, as we believe their capability and strategic alignment with this opportunity will ensure the best possible result for investors,” adds Ninety One chief commercial officer John Green.