Hall Of Fame

Rising Stars

Investment funds in South Africa

Webber Wentzel

At Webber Wentzel, Ashford Nyatsumba leads the investment funds practice, which operates from within the firm’s wider private equity group, led by Nicole Paige. Nyatsumba is sought after by asset managers and private equity firms for his expertise in the formation of Africa-focused private equity funds across a range of sectors. Paige has an excellent track record in advising on secondary fund transactions and the formation of alternative investment funds. Michael Denenga is another key contact, and Chevon Marupen, Alyssa Smith and Rohan Baijnath are other key names for fund formation work.

Practice head(s):

Nicole Paige; Ashford Nyatsumba


Other key lawyers:

Chevon Marupen; Michael Denenga; Rohan Baijnath; Alyssa Smith


Testimonials

‘Great diversity in the team, with good experience and visibility across investment fund structures. ’

‘Familiarity with private equity fund structures and terms.’

Ashford Nyatsumba is an expert in his field.’

Key clients

African Infrastructure Investment Managers (AIIM)


Ethos Private Equity


Alterra Capital Partners


Vantage Mezzanine Partners


Pembani Remgro Investment Managers


Convergence Investment Partners


Old Mutual Private Equity


Capitalworks Investment Partners


Stanlib Asset Management


ARCH Emerging Markets Limited


Betula Growth Limited


Carlyle Group


TRG (Rohatyn Group)


Work highlights


  • Acted for asset management firm Ethos Private Equity in its merger with the Rohatyn Group, a specialised global asset management firm focusing on emerging markets.

Bowmans

Bowmans’ investment fund group acts from within the firm’s private equity practice, and is well known for assisting an established client base of limited partners and private equity houses with high-value, often cross-border fund structuring and formation matters. Private equity specialist John Bellew leads the team and is highly regarded for advising private equity industry stakeholders within multiple African countries. Jutami Augustyn is well-versed in representing South African funds and private equity houses in transactions, and Joshua Janks specialises in venture capital mandates.

Practice head(s):

John Bellew


Other key lawyers:

Joshua Janks; Jutami Augustyn


Testimonials

‘Very deep and knowledgeable team on alternative assets.’

‘Depth of knowledge and experience.’

‘Jutami Augustyn and her team provide a really excellent service – always available, quick responses and quality advice.’

‘Jutami has been a consistently good adviser – rigorous, sensible, helpful. ’

Key clients

Absa Bank Group Limited


Adenia Partners Limited


AlphaTalents Limited


Big Brother


Climate Fund Managers


Enza Capital II LP


Everstrong Capital


Frontend Ventures


Grit Services Limited


International Housing Solutions


LR Africa Holdings Limited


Ninety-One SA Pty Limited


SA SME Fund Limited


The SA SME Fund of VC Funds I


Sanari Capital (Pty) Ltd


SOIC Community Development Trust


TLCom Capital LLP


4D Innovative Capital (Pty) Ltd


A large South African Retirement Fund


Work highlights


  • Advising Climate Fund Managers on the establishment of a green hydrogen investment fund in Namibia, as well as in relation to its broader global funds.
  • Advising SA SME Limited on the formation of its R1 billion venture capital fund of funds.
  • Advised Sanari Capital Proprietary Limited on the establishment and subsequent closings of the Sanari 3S Growth Fund and the investments by 27four Black Business Growth Fund II Partnership, various Riscura managed investors and the National Fund of Municipal Workers.

Cliffe Dekker Hofmeyr

At Cliffe Dekker Hofmeyr, the investment funds team has established strength in advising managers and investors on fund formation, investments, structuring matters and regulatory issues. Department head John Gillmer is ‘a highly experienced attorney who offers efficient, pragmatic and legally sound advice; he is always available and an effective communicator.’ Gillmer has a solid track record in assisting international and domestic financial institutions with the formation of investment funds, which is also a key area of expertise for Wayne Murray. Structuring mandates are prominent in Nuhaa Amardien‘s workload.

Practice head(s):

John Gillmer


Other key lawyers:

Wayne Murray; Nuhaa Amardien


Testimonials

‘The team demonstrates a robust understanding of the investment fund industry, consistently devising innovative solutions for intricate problems. Their responsiveness is remarkable, as they are consistently available for discussions. They promptly grasp the issue at hand and display a proactive approach in identifying the most suitable and customized solutions.’

‘John Gillmer undoubtedly exemplifies expertise in this field, showcasing exceptional efficiency in his work. He successfully assembled a highly skilled and professional team. Similarly, Nuhaa Amardien possesses profound knowledge and a strong grasp of the intricacies within the fund’s industry, effortlessly comprehending its challenges and nuances.’

‘Deep knowledge of private equity structures.’

‘John Gillmer is experienced and obviously an expert in the field of private equity. He has the ability to explain complex legal issues in layman’s language.’

‘The general knowledge of the team allows them to think outside the box and provide holistic solutions to problems. The team is reliable and we can go to them on just about any matter. ’

Key clients

27four Investment Managers


Novare Equity Partners


PIC


PAPE


Old Mutual (IDEAS Fund)


Coronation Fund Managers


Nesa Capital


CoreShares


ASO Capital


Ascension Capital Partners


Aleyo Capital


Ditikeni Investment Company


Vunani Capital Partners


Mergence Investment Managers


Alexander Forbes


Metier Private Equity


Industrial Development Corporation of SA


Leapfrog Investments Holdings


RMB Ventures


AIH Capital


Visio Fund Management


Agrarius Agri Value Chain and Agrarius Sustainability Engineered


Education Investment Impact Fund of South Africa (EduFund)


Futuregrowth Asset Management


Investec Wealth & Investments International


Investec Bank (UK)


Marriott Asset Management


NAGA Global


Africa50 Infrastructure Acceleration Fund I


Amethis Investment Fund Manager


Dominion Fund Management


ENSafrica

Head of banking and finance Craig Saven leads the investment fund practice at ENSafrica; the practice leverages the expertise of the corporate and tax departments, as well as the banking and finance group, to advise on a broad range of funds work. Johan Loubser has a solid track record in assisting with fund formation and regulatory matters, particularly venture capital and private equity funds, and advises managers, pension funds, collective investment schemes and hedge funds on regulatory issues. Alternative investment structures are a key area of strength for Jessica Blumenthal, Magda Snyckers specialises in tax issues, and Cheri Young advises on private equity and registered investment funds.

Practice head(s):

Craig Saven


Other key lawyers:

Johan Loubser; Jessica Blumenthal; Magda Snyckers; Cheri Young


Testimonials

‘The technical expertise of the asset management and investment funds practice at ENSafrica is exceptionally strong. The team’s broad knowledge of insurance, collective investment schemes and financial services regulation is unparalleled and is particularly unique given the team’s detailed understanding of how these structures operate in practice.’

‘Johan Loubser is a standout adviser in the financial services sector – his advice is always well reasoned and technically sound, but it is also shaped by a solid understanding of the practical industry realities.’

Werksmans Attorneys

Werksmans Attorneys’ investment funds team, headed by Shayne Krige, is well versed in advising on a broad spectrum of investment funds work, including private equity and hedge fund mandates, as well as their interactions with the pensions industry. The department has particular strength in acting for investors, and has a solid track record in assisting with contentious matters. Robert Driman advises on the regulatory aspects of investment funds, and Doelie Lessing handles tax-related issues. Hilah Laskov and Mbongiseni Hlongwana have key roles in the team.

Practice head(s):

Shayne Krige


Other key lawyers:

Doelie Lessing; Robert Driman; Hilah Laskov; Mbongiseni Hlongwana


Testimonials

Highly commercial and practical advice. The team is responsive and demonstrates strong technical knowledge.’

Shayne Krige has a wealth of knowledge and expertise.’

Key clients

Stonewood Holdings Limited (Mauritius, Guernsey)


Barak Fund Management Limited (Cayman Islands, South Africa)


Botswana Public Officers Pension Fund (Botswana)


Standard Bank (South Africa)


Citadel (South Africa)


CNBB Venture Partners (Netherlands)


Cosnova Beauty GmbH (Germany)


Havaic Holdings (South Africa)


Arx Pangaia (Netherlands, Switzerland, South Africa)


Ngewdi Investment Managers (South Africa)


Prescient (South Africa)


King Price Insurance (South Africa)


Mergon (Isle of Man)


Sana Partners Private Equity (South Africa)


Kapela Investments Holdings Proprietary Limited (South Africa)


First National Bank a division of FirstRand Bank Limited (South Africa)


King & Wood Mallesons LLP


Simple. Capital Partners Limited


Vrystaat Munisipale Pensioenfonds


M Campbell Consulting Proprietary Limited


Cape Projects Structured Development and Investment Proprietary Limited


Flash Mobile Vending Proprietary Limited


Public Investment Corporation


Strebis Proprietary Limited (South Africa)


Transnet Retirement Fund


Tongaat Hulett Limited


Work highlights


  • Advising the Public Investment Corporation on preparing standard investment management agreements for the appointment of domestic and foreign external investment managers.
  • Acted for the curator of the Vrystaat Munisipale Pensioenfonds (Fund) and the Fund itself in complex litigation arising from an investigation by the Financial Sector Conduct Authority, concerning alleged financial and operational irregularities occurring at the fund.