Peregrine, a South African wealth and asset management firm, is in talks with several companies to make an acquisition within the next six months, according to BDlive.
Peregrine CEO Jonathan Hertz said: "We are actually involved in discussions with a fiduciary trust business, asset and wealth management businesses and some JV (joint venture) opportunities. I would be surprised if there are no transactions in the next six months."
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Hertz said the acquisition must add value to the firm while also the market should not expect large acquisitions.
As of now Peregrine has about ZAR1 billion (US$97.3 million) in cash on its balance sheet and any acquisition will be funded from internal resources.
The assets under management at Peregrine Capital have increased to ZAR3.5 billion from ZAR3.4 billion in March 2013.
Peregrine Group said its founder Sean Melnick would become nonexecutive chairman in April and Leonard Harris, who has been chairman since 2006, would step down.
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