Ethos Private Equity Raises Zar5,5bn Private Equity Fund For Africa
South African private equity firm Ethos Private Equity has closed its latest fund, Ethos Fund V, on ZAR5.5bn (approximately $750m).
This is the largest fund in Africa to date. Ethos specialises in acquisitions involving management equity participation, for medium-to-larger South African and African buy-outs, expansion of businesses and niche privatisation opportunities.
Ethos CEO AndrÃ© Roux said, 'The oversubscribed response to Ethos Fund V is clear evidence that, when it comes to private equity, Ethos has the experience and track record to deliver. We have a proven hands-on investment strategy, which has worked extremely well for us over two decades. Together with a diverse team of professionals, with an extraordinary depth of experience and ability, I have every confidence that Fund V will enable Ethos to make large acquisitions with like-minded local and international partners in South African and Africa. We are excited about the prospect of deploying Fund V, and are actively assessing a number of opportunities.'
Ethos chairman Fred Phaswana added, 'It is with a deep sense of optimism that Ethos launches Fund V and embarks on investments in the African continent. We are continually looking for quality investment opportunities into sub-Saharan Africa. We are able to support management and drive strategic objectives through expertise, sound corporate governance, operational experience and leadership coaching. Ethos must now be regarded as a globally competitive force in the private equity world. When free minds work together collaboratively the rate and extent of growth can be astounding.'
Ethos has already completed three Fund V transactions in South Africa. The new fund's predecessor, Ethos Fund IV, raised R2.3bn in 1998/89.