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November 22, 2022

The Rohatyn Group to buy Ethos Private Equity to enter Africa

The Rohatyn Group (TRG ), a US-based specialised global asset management company, has reached a definitive agreement to purchase African alternative asset management firm Ethos Private Equity.

Ethos, which has offices in South Africa, Kenya and London, has so far made more than 150 investments in South African and sub-Saharan businesses.

Through the new deal, TRG aims to boost its offerings and enhance footprint in Africa.

The firm also seeks to provide investors with access to the markets in Africa, which has potentials in private markets as well as real assets and public markets opportunities, noted the company.

The deal, whose value has not been disclosed, is subject to receipt of approval from South African competition and exchange control agencies.

TRG CEO and founder Nicolas Rohatyn said: “The philosophical and cultural similarities of TRG and Ethos were apparent from the start.

“We share a belief that multiple thematic cross currents — such as private credit, renewable energy, digitalisation, and agriculture, among others — will anchor future investment priorities for investors.

“Our combined firm, with almost $8bn in AUM, almost 400 institutional LPs, and the ability to offer solutions for de novo investing, as well as ongoing GP consolidations and fund restructurings, will occupy a unique position in our industry.”

TRG’s investment unit caters to a number of clients across public equities, corporate and sovereign debt along with private markets, forestry, agriculture and infrastructure.

Ethos CEO Stuart MacKenzie said: “Today’s announcement is the start of an exciting new chapter for Ethos and the culmination of the strategic transformation we started in 2016.

“Since then, we have successfully diversified our product offering, geographic footprint and sources of capital.

“This transaction represents a compelling opportunity for us to pursue the next growth phase as the African arm of TRG, one of the largest alternative asset management firms in emerging markets.”

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