Sanlam Investment Holdings, today announced it had purchased a majority stake in Bermuda-based investment firm, P2international Ltd (P2). The transaction delivers an additional global distribution partner for Sanlam’s insurance-based and asset management
Johan van der Merwe, CEO of Sanlam Investments, says the addition of P2 to Sanlam’s stable of local and international businesses is a considered and extremely well timed move. “We have worked with P2- through Glacier, Glacier International and Sanlam Global Investment Solutions (SGIS) - for a number of years and are now looking forward to deepening and widening this relationship through the new ownership arrangement.”
Cobus Kruger, MD of SGIS – a division of the Sanlam Group that provides international investment solutions, including the P2Strategies to international clients – has taken up the post of CEO of P2, in addition to his role at Sanlam. He says, “P2 is a truly innovative company with an offering that talks directly to investor needs in today’s investment climate. Its strategies allow smoothing from market fluctuations but, unlike many other offerings, clients are not locked in for predetermined periods. The strategies, therefore, offer far more liquidity than other guaranteed-type investment products and can be tailored to individual needs”.
“Our investment in P2 embodies Sanlam’s philosophy of supporting industry innovators and preeminent investment solutions. We couldn’t be more pleased with our partnership and are strongly committed both to growing the P2 business around the world and offering increased value to our local and international clients,” says Kruger.
The investment from Sanlam will provide P2 with the corporate footprint it needs to expand further globally. P2 is already operating in four countries across Africa, Asia, Europe, and the Middle East.
P2 will retain its name and will operate under the Sanlam Investments cluster of businesses within the Sanlam Group.
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