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Sanlam Private Equity (SPE)

Sanlam Private Equity is a business within Sanlam Investment Management (Pty) Ltd, an authorised financial service provider within Sanlam Investments, a division of Sanlam Life Insurance Limited.

Since our business was established in 1996, SPE is one of the largest private equity firms in South Africa with over R3 billion invested capital. Since our inception we have made well over 100 investments in buyouts, growth capital, private equity and venture capital funds, infrastructure projects and investment companies.

With over 20 investments across various sectors of the economy our conservative investment style, creativity and patience bodes well for the delivery of superior investors returns.

Why Sanlam Private Equity?

We are driven to create value for shareholders and have been doing this for over 21 years. Our market reach, intellectual capital, experience in adapting to market cycles, and creative, flexible approach have enabled us to deliver superior investment returns.

  • Our network and proven track record generates unique and quality investment opportunities.
  • We have a proven track record of realisations as evidenced by the fact that we have exited c50 portfolio investments, through various exit mechanisms, including listings, third-party transactions and management buy-outs.
  • Our size and network, supported by our affiliation to the broader Sanlam Group, allows access to insights and information that may not be accessible to others.
  • We take great care in the way we structure deals to optimise returns. We are long-term investors, which gives us the ability to ride out market cycles.
  • We invest in opportunities that allow us to exercise our active-management philosophy. We play an active role on the boards (and other governance structures) of investee companies and ensure that there is strong alignment between shareholders and executive management.

Our History

Since its inception, Sanlam Private Equity has deployed more than R8 billion into over 100 investments across various investment strategies including buyouts, growth capital, private equity funds, venture capital funds, black economic empowerment, infrastructure projects and investment holding companies.

Under that mandate, the entrepreneurial team at Sanlam Private Equity:

  • established the R2 billion Sanlam Development Fund in 1996
  • established the first private equity fund-of-funds in South Africa in 1998
  • established the R1 billion Sanlam Development Fund-of-Funds I in 2002
  • pioneered black economic empowerment financing

In 2010, the business refined its mandate from Sanlam Life Insurance Limited, in terms of which it now has R4 billion available for investment into direct private equity investment opportunities, such as buyouts and growth capital, of which it has R2.5 billion currently invested in just over 20 investments.

Amongst the direct investments made and successfully realised by Sanlam Private Equity are:

  • Global Resorts (Peermont)
  • Dischem
  • M-Cell (MTN)
  • Thesele
  • Aspen Pharmaceuticals
  • Profert
  • Worldwide Africa (Pembani)
  • Zungu Investment Company (ZICO)
  • Nuclicks (Clicks)
  • Datacentrix

Our Deals

Sanlam Private Equity’s current strategy is to focus on direct private equity investments into high quality mature businesses with strong management teams in South Africa and the rest of sub-Saharan Africa, through buyouts or the provision of growth capital.

The parameters for Sanlam Private Equity's targeted investments are:

Minimum investment: R100m
Willing to syndicate: Yes
Industry preference: None
Geographical preferences: South Africa and Sub-Saharan Africa
Industries excluded: Property, primary agriculture, infrastructure and resources
Stage of investment: Stable mature businesses and growth capital
Business stages excluded: Seed Capital, Start-up and Early Stage

The strategy also seeks to explore co-investment opportunities with other private equity investors to establish consortia to control and drive the strategic initiatives required to materially improve the prospects, and value, of the target businesses. The investment portfolio includes the following:

Consol is the largest glass manufacturer in Africa, its list of blue-chip customers include South African and international companies that operate and demand world-class service. Consol benchmarks itself against international best practice for all.

Outdoor Network is currently the third largest outdoor media company in South Africa with a presence in the DRC, Nigeria, Ghana and Botswana. The company offers an extensive range of products that include fixed and mobile billboards, street furniture (bins) and other forms of promotional signage.

MFN is a “Managed Bandwidth Service Provider” that builds and operates a number of fibre-to-the-premises access infrastructures in, and between, commercial business parks and business clusters. These access infrastructures are, in turn, connected to a Metro-Core-Ring circling Tshwane and Johannesburg, interconnecting these parks and clusters. This entire infrastructure is then made available to all Internet Service Providers (“ISPs”), enabling them to deliver broadband services to their clients, or end users. This entire infrastructure is also suitable for corporate entities for the purpose of building their own private corporate networks, between regional offices and branches.

SEACOM is a privately owned and operated pan-African ICT enabler that is driving the development of the African internet. SEACOM's vision has been built on the backbone of open-access and equitable principles. SEACOM financed and developed the first broadband submarine cable system along the eastern and southern African coastlines, bringing with it a vast supply of high quality and affordable internet. Live since July 2009, SEACOM has seen more than 10 fold increases in bandwidth penetration in several of Africa's most underserved nations.

Weldamax is a leading supplier of quality, value-for-money branded welding products. At the forefront of welding technology, we apply our expertise to provide our customers with innovative products and specialised services. Global partnerships with the world’s leading welding companies enable us to deliver the best products on the market at highly competitive prices – all backed by a committed, hard-working team of professionals. We are one of the few South African companies to offer a complete range of proprietary welding equipment and associated products, in the fields of Arc, MIG/MAG, TIG, plasma cutting, welding gases, abrasives, safety equipment and consumables.

KFC is one of the strongest consumer brands in South Africa, enjoying a leadership position in the quick service dining market. With a 40 year history in South Africa and over 800 stores nationally, KFC is the leading franchise group in the country.

Sanlam Private Equity also committed capital to over 20 private equity funds under its previous fund-of funds investment programme, which includes the following funds:

  • Agri-Vie Food & Agribusiness Investment Fund
  • Capitalworks Private Equity Fund I
  • Ethos Fund V
  • Sphere Fund I
Amongst the Fund of Funds investments made and successfully realised by Sanlam Private Equity are:
  • Brait Fund III
  • Shanduka Value Partners Fund I
  • New Africa Mining Fund
  • SA Infrastructure Fund II

Our People

Deal team

Alton Solomons: CEO B.Acc, B.Compt (Hons), CA (SA), CFA
Raymond Simao: Partner BCompt (Hons), CAIB (SA), MSc (Fin Mgmt)
Anil Maharaj: Investment Principal CA (SA)
Rene Schutte: Investment Principal B.Acc, B.Acc (Hons), CA (SA), M.Com
Jan-Jan Bezuidenhout: Investment Principal B.Com, LLB
Ntshediseng Sibeko: Investment Associate B.Com, MBA
Brandon Subrayan: Investment Associate B.Com, CFA
Natalie Louria: Legal Counsel BA, LLB

Support Team

Xolisile Ntanzi: Financial Manager B.Com, B.Com Hons, CA (SA)
Lerdean Maggott: Administration Manager ND - Human Resource Development
Jabu Nene: Team PA

Our Industry Associations

SAVCA is an association whose objectives include promoting the highest ethical and professional standards within the private equity and venture capital industry. SAVCA is an association whose objectives include promoting the highest ethical and professional standards within the private equity and venture capital industry. The main objectives of the Association include:

  • Promote the venture capital and private equity profession in Southern Africa
  • Represent the profession at the national and international level
  • Develop and stimulate professional and transactional venture capital and private equity investments throughout Southern Africa
  • Stimulate the expansion of venture capital and private equity throughout Southern Africa
  • Collect information from markets and from members
  • Circulate information to members and the outside world
  • Stimulate and maintain contacts within the membership
  • Contribute to the management development of investors and investees
  • Provide the relevant authorities with proposals for improvement in the corporate, fiscal and legal environment for venture capital and private equity in Southern Africa
  • Maintain ethical and professional standards

The Emerging Markets Private Equity Association (EMPEA) is an independent, global membership association whose mission is to catalyse the development of private equity and venture capital industries in emerging markets. EMPEA’s 300+ member firms share the belief that private equity can provide superior returns to investors, while creating significant value for companies, economies and communities in emerging economies.

AVCA is a not-for-profit entity founded to promote, develop and stimulate private equity and venture capital in Africa. AVCA is committed to promoting high ethical standards of business conduct and professional competence in the private equity and venture capital industries.

Each day, the people of RisCura go to work aiming to achieve two things. Firstly, we work to empower our clients towards more intelligent financial decision making, helping them navigate risk in even the most volatile investment markets. But we also want to know our efforts will benefit those to whom our clients are most accountable – the pensioners, savers, medical fund members and others who depend on investment growth and stability to lead richer, more secure lives.

Contact us

Physical address:
4th Floor
11 Alice Lane
South Africa

Telephone +27-11 778 6613
Facsimilie +27-11 778 6651

Postal address:
P.O. Box 414085
South Africa


Sanlam Life Insurance is a licensed financial service provider.
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