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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 R4 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 50 investments across various sectors of the economy our conservative investment style, creativity and patience bodes well for the delivery of superior investors returns.

What drives us
Creating value for our stakeholders.

What defines us
Our market reach, intellectual capital, experience in adapting to market cycles, our diverse finance products, creativity and patience.

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.

With over 50 investments across various sectors of the economy our conservative investment style, creativity and patience bodes well for the delivery of superior investors returns.

    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 30 investments.

    Amongst the direct investments made and successfully realised by Sanlam Private Equity are:
  • Global Resorts (Peermont)
  • M-Cell (MTN)
  • IST (PowerTech IST)
  • Aspen Pharmaceuticals
  • Worldwide Africa (Pembani)
  • Nuclicks (Clicks)

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

Agri-Vie is a private equity investment fund focused on food and agribusiness in Sub-Sahara Africa with a mission to generate an above average investment return, as well as demonstrable socio-economic development impacts through its equity investments in food and agribusinesses. As such, Agri-Vie is styled as an ‘impact investment fund’, harnessing investment disciplines to address development challenges.

Founded in 1991, Brait’s Private Equity business is a large, independent private equity fund manager, with a 20 year history of raising capital from leading international and South African investors and executing a disciplined approach to private equity investing primarily in South Africa.

Capitalworks is a leading independent alternative asset manager concentrating on Sub-Saharan Africa and serving the needs of a diverse range of partners, including leading domestic and international investors, commercial banks, insurance companies, pension funds, family offices and high net worth individuals, through two regionally focussed funds, being a mid-market private equity fund and a special opportunities fund. In addition, Capitalworks provides advisory services to institutions in respect of their alternative asset investment programmes.

Founded in 1984, Ethos has been in the business of private equity for over 25 years. We pioneered South African private equity, concluding the first private equity-led acquisitions in the country, and have invested in over 100 companies. Extensive local networks coupled with international reach epitomise our premier franchise. Ethos makes long-term investments into medium-to-large businesses in South Africa and selectively in sub-Saharan Africa. These investments have consistently outperformed the stock market, delivering strong returns for our investors and stakeholders alike.

The New Africa Mining Fund (NAMF) is a junior mining venture capital fund which provides capital for early to later stage exploration and mining development projects in all minerals except diamonds and uranium, throughout Africa.

Shanduka Group was founded by Cyril Ramaphosa in 2001 as a black owned investment holding company. The company is invested in a diverse portfolio of listed and unlisted assets. Most investments are in the resources sector but the company also has exposure to financial services, food & beverages, telecoms, property, energy, and industrial sectors.

SAIF focuses on private sector investment in infrastructure projects in southern Africa. SAIF has interests in three major 30 year toll road concessions:

  • 25% stake in Bakwena Platinum Corridor Concessionaire, owner of the R3.0 billion, 380 km Pretoria to Lobatse, N4 toll road concession.
  • 46.5% stake in Trans African Concessions, owner of the R2.0 billion, 503 km Witbank to Maputo, N4 cross border toll road concession.
  • 29% stake in N3 Toll Concessions, owner of the R2.7 billion, 420 km Cedara to Heidelberg, N3 toll road concession.

  • In addition to the above, SAIF has interests in a number of other projects in the rail, airports and telco sectors in southern Africa.

Managed by Triumph Venture Capital (Pty) Ltd. Triumph Venture Capital (“TVC”), is an independent South African private equity and venture capital company that is wholly-owned and driven by a dynamic and multi-disciplinary management team with extensive business, technology commercialization and investment experience.

Founded in 2003, Sphere is a high performing investment holding company driven to create value for funders, shareholders and business partners. With a solid track record shaped over nearly a decade, we actively seek out investment partnerships with high quality privately owned businesses across a range of strategic sectors.

Our Deals

Sanlam Private Equity realigned its portfolio in 2010 to be coherent with its new 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
Minimum shareholding: 25%

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.

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.

Established in 1978, Dis-Chem started out as a small pharmacy in Mondeor, South of Johannesburg. Today the group is still privately owned and run by the original founders. Dis-Chem has been rated as the country's best pharmacy chain by Professional Management Review, and has also been voted as Best Pharmacy, Best Medical Supply Store and Best Health Store in both The Star Your Choice and Pretoria News Readers Survey, as well as in the Leisure Options Readers Choice Awards. What makes this so special is that the readers voted for their favourite businesses or establishments, so we thank all our customers who voted for us.

Outdoor Network is currently the third largest outdoor media company in South Africa with a presence in the DRC, Nigeria, Ghana and Botswana. 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.

Profert was founded in 1999, and has since grown to Profert Holdings, which has experienced explosive growth in the last five years. Through its diversification strategy Profert Holdings has invested in several companies, which has allowed the Group to add value and create economies of scales throughout the entire supply chain. From raw materials to fast moving consumer good, Profert Holdings has captured value and created incredible opportunities within the agricultural sector of South Africa and Sub-Saharan Africa.

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.

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

Support Team

Neville Deverneuil: Head of Finance and Operations PM.Dip, MBA, PB (SA)
Diane Pitt: Financial Manager B.BusSc, B.BusSc (Hons), CA (SA)
Lerdean Maggott: Administration Officer ND - Human Resource Development
Helen Cryer: Team PA
Jabu Nene: Team PA

Investment Committee

Mark Murning: CEO: Sanlam Capital Markets
Cora Fernandez: MD: Sanlam Investment Management
Anton Raath: CEO: Glacier
Francois Oosthuizen: Chief Risk Officer: Sanlam Capital Markets
Haydn Franckeis: Sanlam Asset and Liability Committee Portfolio Manager

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 catalyze 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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