Ethos Fund VI

ETHOS FUND VI INVESTMENT CRITERIA

Ethos Large Buyout Fund VI
VINTAGE YEAR:
2011
CAPITAL RAISED:
R8.6 billion
FUND STATUS:
Fully invested.
Ethos Fund VI
Ethos Large Buyout Fund VI

Ethos Fund  VI  is at the end of its investment cycle and is starting its realisation phase. As such, Ethos has begun the capital raising process for Ethos Fund VII; it is envisaged to target a fund size of US$500 million. 

The objective of Ethos Fund  VII will be to invest in private companies with market-leading positions, an identifiable competitive advantage, strong cash flows and significant growth potential. Ethos Fund  VII will target companies with an enterprise value of between US$100-500 million and would seek to invest between US$25-60 million in each opportunity.

Continuing strategy evolution with see Ethos Fund  VII focus on transactions in sub-Saharan Africa. The team is aiming to invest up to 50% of the Fund in companies based outside South Africa in the rest of sub-Saharan Africa.

Autozone
Eaton Towers
Eazi Access
Neopak
Primedia
RTT
The Beverage Company
Twinsaver
Vertice MedTech Group
Waco International
  • Control or joint control
  • Minority growth capital
  • “Sweet spot” acquisition of companies with enterprise values of c.R750 million to c.R3 billion; and
  • Large-sized, syndicated transactions of more than c.R3 billion (in consortium)
  • Ethos’ predominant focus is on making investments in South Africa and selectively in other sub-Saharan economies with a primary focus on Nigeria, Ghana, Kenya, Uganda and Tanzania.
  • Start-ups
  • Greenfield & Brownfield enterprises
  • Deep Mining & Mineral Extraction
  • Gambling, Casinos and equivalent enterprises
  • Property & Property Development

Composition of Fund VI Commitments by Investor Type (Rm)

  • Pension Funds (38%)
  • Insurance Co’s (8%)
  • DFIs (4%)
  • Sovereign WealthFunds (31%)
  • Charities / Foundations / Endowments / Family Office (3%)
  • Fund of Funds (16%)

Composition of Fund VI Commitments by InvestorGeography (Rm)

  • North America & Europe (32%)
  • South Africa (36%)
  • Middle East & Asia (32%)
Kevro
Woza Siyophola

WOZA SIYOPHOLA!

ETHOS FUND VI ACQUIRES LITTLE GREEN BEVERAGES (‘LGB’) IN PARTNERSHIP WITH MANAGEMENT AND NEDBANK PRIVATE EQUITY

In LGB, Ethos identified a youthful African business with entrepreneurial flare.

Standing out from the crowd

Standing out from the crowd

Taking growth to the next level

Exceptional opportunities never simply glide across the skyline. They have to be identified, cultivated and – most importantly – actualised. 222

Africa Calling

Africa Calling

Ethos Answers Eaton Towers’ Call

Expanding horizons. Local insights, regional networks and global reach.

Seeing things differently

Seeing things differently

Spotting potential is one thing. Believing in potential is quite another.

Last year, Ethos identified latent opportunity within Nampak’s Tissue division.

Capturing our imagination

Capturing our imagination

Sometimes thinking about the box is thinking outside the box

Early last year, Ethos identified Nampak’s corrugate division as a business requiring lift.

Sucess Planning Featured

IN THE ZONE

Off-field preparation invariably determines the degree of success in the sports arena. The same is true for private equity.

Ethos’ investment conviction is grounded in meticulous analysis, creative insight and practical solutions accumulated over the months prior to concluding a transaction

The extra mile

ANOTHER EPIC ROAD TRIP BEGINS…

Successful private equity investments are founded in partnership and grounded in a shared vision. The Ethos-led acquisition of South African logistics firm RTT embodies this principle.

Ethos actively pursued RTT as an attractive Fund VI investment.

Intricately structured perfectly formed

THERE IS NO PRIVATE EQUITY BLUEPRINT

Success is dependent on multi-party negotiations, complex structuring and an unerring sense of purpose.

The Waco International transaction exhibited all these components, which needed to be woven into a fabric of long-term trust and strategic alignment.

Inspired Designs by Ethos

INSPIRED DESIGNS BY ETHOS

Enabling strategic growth through made-to-measure solutions

The Kevro acquisition presents significant growth opportunities through continued market share expansion, product range augmentation and sub-Saharan development.