Old Mutual Investment Group announced that it had launched a new private equity fund called The Old Mutual Multi-Manager Private Equity Fund 3. The fund is aimed at targeting institutional investors and high net worth individuals. The fund should provide its investors entry to a range of prominent private equity managers in South Africa.
The company said that its strong performance track record and market demand encouraged them to the launch Old Mutual's new private equity fund. Old Mutual Private Equity has, under its organization, ZAR3.2 billion in private equity funds. The team had invested over ZAR6.0 billion in 23 transactions since 2004. The firm has already returned over ZAR13 billion to investors.
The fund is their third multi-manager fund and is poised to make investments in five private equity managers. These private equity funds include Ethos, Capitalworks, and Actis.
"This latest fund launch by Old Mutual Private Equity is confirmation that the South African private equity industry is adaptive and alert to investors' needs. It shows, too, that appetite for the asset class is healthy and that private equity fund managers continue to find opportunities for growth and returns through careful deal selection and rigorous management of assets," South African Venture Capital CEO Erika van der Merwe explained.
Join the Conversation