The Ninety One SA Recovery Fund in association with Ethos Private Equity targets R10bn to help restore SA’s economic health

Firms see the investment community as having a key role to play in post-COVID economic recovery

JSE- and LSE-listed investment manager Ninety One has launched an impact investment initiative – the Ninety One SA Recovery Fund, in association with Ethos Private Equity, one of South Africa’s leading alternative asset managers. The fund’s objective is to support the preservation of the country’s productive capacity and economic recovery from the effects of the COVID-19 pandemic, while seeking an attractive return for investors.

With a focus on the urgency of the economic situation in SA, Ninety One is targeting a first close of the fund in July 2020. Ninety One will be targeting a fund size of R10bn, with funding raised via two closes from South African institutional investors.

The fund aims to achieve a positive impact with attractive returns via a clear set of investment outcomes. Priorities for the fund are to protect SA productive capacity during the next 24 months, preserve jobs and protect permanent loss of equity value. The fund will consist of a concentrated portfolio with an appropriate mix of senior and subordinated debt, preferred equity, listed equity and private equity with a deployment time horizon of 18 to 36 months.

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