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March 23, 2017

Sanlam to buy majority stake in PineBridge Investments East Africa

Sanlam Emerging Markets, part of the Sanlam Group, has agreed to acquire a majority stake in Kenya-based PineBridge Investments East Africa (PIEAL) for an undisclosed sum.

By Verdict Staff

Sanlam Emerging Markets, part of the Sanlam Group, has agreed to acquire a majority stake in Kenya-based PineBridge Investments East Africa (PIEAL) for an undisclosed sum.

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PIEAL has operations in both Kenya and Uganda. The firm is licensed by the Capital Markets Authority and the Retirement Benefits Authority in Kenya along with the Ugandan Capital Markets Authority and the Uganda Retirement Benefits Regulatory Authority.

Sanlam Emerging Markets CEO Junior Ngulube said that the transaction would allow Sanlam to strengthen its institutional, affluent and retail investment management position across East Africa.

“The existing Sanlam businesses in East Africa will be able to leverage SIEAL’s capabilities. As the business develops, it will provide opportunities to expand geographically and develop other investment products,” Ngulube noted.

PIEAL will be rebranded as Sanlam Investments East Africa (SIEAL) as part of the deal, which is subject to regulatory nod. Sanlam eventually plans to integrate its asset management operations in the region.

PineBridge Investments regional CEO for EMEA Anthony King said: “At the forefront of our negotiations was the need to secure a buyer with a strong local heritage in order to maximise future business growth and honour fiduciary, client and employee agreements. Sanlam is a respected brand with a compelling regional footprint that will offer financial strength and further access to local investment opportunities.”

 

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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