Dear SAVCA Members and Friends,

Showcasing Industry Success Stories

We are pleased to announce the launch of the SAVCA Case Study Compendium which is designed to showcase portfolio companies from diverse industries and fund managers. This compilation, which will be the first of its kind by SAVCA, will provide tangible examples of the private equity industry’s notable contribution to sustainable development. SAVCA members are invited to submit portfolio companies for consideration for this study; please contact the SAVCA office for further details.

Next week kicks off with the SAVCA Venture Capital Foundation Course hosted in collaboration with Knife Capital. Registration has been brisk and delegates hail from the public sector as well as the private sector, including VC fund managers, aspirant fund managers and entrepreneurs.

Also in the pipeline is the SAVCA Master-Classes in Competition Regulation hosted in partnership with Webber Wentzel. In this newsletter we feature a conversation with one of the key facilitators, Trudi Makhaya, who is an independent economist and strategist and the former Deputy Commissioner at the Competition Commission. The timing of these classes is apt as the Competition Commission celebrates its fifteenth year anniversary this month.

We are pleased to announce that SAVCA, together with Norton Rose Fulbright, will host the next session for Women in Private Equity on 23 September 2014. Polo Leteka, the co-founder and director of Identity Partners and CEO of IDF Managers is our guest speaker; the theme of her presentation is Private Equity in Africa: Finding the Women. Seats are limited and preference will be given to SAVCA members — so book your place soon.

Please keep us updated with your news and visit the SAVCA website to find new research, industry updates and upcoming events.

Regards

Erika van der Merwe
CEO: SAVCA

Regulation

Exchange of tax information

Tax authorities across the globe are working aggressively to collect taxes which they believe are collectable in their respective jurisdictions. This article from EY discusses the latest developments relating to the gathering and exchange of tax information and how this will affect South African business.

ESMA reporting obligations under the AIFMD

Legal intelligence provider JD Supra has a issued a review of the recently released guidelines by the European Securities and Markets Authority (ESMA) on reporting obligations under the Alternative Investment Fund Managers Directive (AIFMD).

SAVCA Events

SAVCA Venture Capital Foundation Training Course
Date:         8 to 9 September 2014
Venue:      FNB Conference and Learning Centre, Sandown, Johannesburg
Cost:         SAVCA members pay R6 750; qualifying entrepreneurs pay R6 750; others pay R7 750
Click here for further information

SAVCA Master-Class in Competition Regulation
Session 1: Abuse of dominance – the next priority for the Competition Commission? Implications for investors
Date:         11 September 2014
Time:         2 pm to 5 pm
Venue:      Webber Wentzel, 10 Fricker Road, Illovo, Johannesburg
Cost:         SAVCA members pay R2000, non-members pay R2500
RSVP:       Booking is essential and proof of payment is required for entry: Contact the SAVCA Office on events@savca.co.za  or +27-11-2680041
Click here for further information

SAVCA Master-Class in Competition Regulation
Session 2: The economics of competition law – how authorities assess the competitive effects of transactions and contracts, and the implications for investors 
Date:         18 September 2014
Time:         2pm to 5pm
Venue:      Webber Wentzel, 10 Fricker Road, Illovo, Johannesburg
Cost:         SAVCA members pay R2 000; non-members pay R2 500
RSVP:      Booking is essential and proof of payment is required for entry: Contact the SAVCA Office on events@savca.co.za  or +27-11-2680041
Click here for further information

Ensuring Successful Private Equity Fundraising in the US and Europe
Presentation by Solomon Wifa, Managing Partner of O’Melveny & Myers
Date:        18 September 2014
Time:       4:45 pm to 6:30 pm
Venue:     Mini Auditorium, GIBS, 26 Melville Road, Illovo, Johannesburg
RSVP:      Booking is essential: The SAVCA Office on events@savca.co.za or +27-11-2680041
Click here for further information

Women in Private Equity
Presentation – Private Equity in Africa: Finding the Women
Date:        23 September 2014
Time:       8:00am for an 8:30am start. Event to end by 10:00am.
Venue:     Norton Rose Fulbright, 5 Alice Lane, Sandton, Johannesburg
RSVP:      Booking is essential: The SAVCA Office on events@savca.co.za or +27-11-2680041
Click here for further information

SAVCA GIBS Advanced Programme Course – A Done Deal

Date:           8 October 2014
Time:          All day conference
Venue:        GIBS Campus, 26 Melville Road, Illovo, Johannesburg
RSVP:        Booking is essential: The SAVCA Office on events@savca.co.za or +27-11-2680041
Click here for more information

LP Breakfast (Institutional Investors and Fund of Funds welcome)

Date:         21 October 2014
Time:        8:00am for an 8:30am start. Event to end by 10:00am.
Venue:      The Saxon Hotel, 36 Saxon Road, Sandhurst, Johannesburg
RSVP:       Booking is essential: The SAVCA Office on events@savca.co.za or +27-11-2680041

More information to follow

SAVCA AGM (Members only)
Date:          22 October 2014
Time:         5:00pm-7:00pm
Venue:      Webber Wentzel, 10 Fricker Road, Illovo, Johannesburg
RSVP:        Booking is essential: The SAVCA Office on events@savca.co.za or +27-11-2680041
Click here for more information

SAVCA Annual Conference: LP Masterclass
Date:        12 February 2015
Time:       12:00pm-5:00pm
Venue:     Spier Stellenbosch
RSVP:      Booking is essential: The Conference organiser, Karin Diederichs on karin@soafrica.com or Tel: +27(0)21 421 0345/Cell: +27 (0)83 270 9219
Click here for further information

SAVCA Annual Conference: Members Reception
Date:        12 February 2015
Time:        12:00pm-5:00pm
Venue:      Spier Stellenbosch
RSVP:       Booking is essential: The conference organiser, Karin Diederichs on karin@soafrica.com or    Tel: +27(0)21 421 0345/Cell: +27 (0)83 270 9219
Click here for further information

 SAVCA Annual Conference
Date:         13 February 2015
Time:        All day conference
Venue:      Spier Stellenbosch
RSVP:       Booking is essential: The conference organiser, Karin Diederichs on karin@soafrica.com or    Tel: +27(0)21 421 0345/Cell: +27 (0)83 270 9219
Click here for further information

Keep up to date with all our events and courses by regularly visiting the SAVCA online calendar.

Industry Events

EMPEA Private Equity in Emerging Markets 2014 | Tapping Global Growth and Driving Returns
Date:           14 October 2014
Venue:      InterContinental Park Lane, London
Leveraging the expertise of the Financial Times’s global markets coverage and EMPEA’s insight into long-term, growth capital investments, Private Equity in Emerging Markets is returning to London this October to explore the latest developments in emerging markets private equity.
Click here for further information

EMPEA Private Equity in Africa 2014 | Achieving Africa’s Economic Potential
Date:           15 October 2014
Venue:      InterContinental Park Lane, London
The Financial Times and EMPEA will once again convene the African private equity industry in London for the sixth annual summit
Click here for further information

SuperReturn Africa 2014
Attend SuperReturn Africa this December in Cape Town to meet, network and exchange ideas with the very best managers with a solid track record of investing in Africa

Dates:      2 December – 4 December 2014
Venue:     The Westin, Cape Town
• Join 500+ private equity professionals
• Meet 150+ local and international LPs
• Hear from 130+ industry leading speakers
• 30+ countries represented
• 2 pre-conference summits – The West Africa Summit OR The Fundraising Summit
SAVCA members can benefit from an exclusive 20% discount. Please quote VIP code: FKR2356SAVCA1 when registering. For more information or to register online, please visit: www.superreturnafrica.com/FKR2356SAVCA1

Asian Financial Forum | Asia: Sustainable Development in a World of Change
Date:        19-20 January 2015
Venue:      Hong Kong
The Asian Financial Forum (AFF) brings together some of the most influential members of the global financial and business communities each January to discuss developments and trends in the dynamic markets of Asia.

Deal Flow Matchmaking session (20 January 2015)
The forum features a unique deal-sourcing and matchmaking session jointly organized by the Hong Kong Venture Capital and Private Equity Association and the HKTDC. One-on-one meetings are arranged between sources of funds and sources of deals, enabling participants to meet with potential business partners from around the world.

Click here for further information

SAVCA In The News

SAVCA and EY release first video in “Excellence in Exits” series I Making Finance Work for Africa
Ernst & Young SAVCA presents the first in a six-part video series dedicated to the exits experiences of Southern African private equity fund managers. The videos come at a time when many funds in the region are at a mature stage are preparing portfolio companies for exits.

SAVCA Members In the News

Kunoch Holdings Buys Diamond Bank Stake from Actis, CDC, Articles | THISDAY LIVE        
Diamond Bank has announced that Kunoch Holdings has completed the purchase of Actis DB Holdings Limited, the company which holds Diamond Bank shares, from Actis LLP and CDC Group Plc.

Video: Phatisa IRR calculator app crunches the numbers for you I CNBC Africa      
CNBC Africa reviews the Phatisa IRR calculator app which gives investors a simpler way of calculating private equity returns.

PIC investments to ‘grow returns and lift SA economy’ I BDlive     
Dan Matjila the Chief Investment Officer of the Public Investment Corporation (PIC) plans to improve returns while reinvigorating the flagging economy. The average annual rate of return for Africa’s biggest fund manager should reach 18% to 20% over the next five years from 16% over the past decade.

Actis to invest 170 billion FCFA in Cameroon from 2014 to 2018 I Business in Cameron
Actis announces its plans to invest 170 billion FCFA in the Cameroonian energy sector over the next five years. The fund recently acquired the local energy utility Aes Sonel.

New Wesgro Board announcement I Cape Business News 
Alan Winde, Minister of Economic Opportunities, announced the new board of Wesgro – the Western Cape’s destination marketing, trade and investment promotion agency. Andrea Böhmert, a partner at Knife Capital has been appointed to the board.

Industry News and Insights

NEF seeks R1bn to fix capital shortage | BDLive
The National Empowerment Fund (NEF) is in the final stages of negotiating a loan facility of R1bn from an undisclosed development finance institution to address its shortage of capital.

Emerging Markets: should investors go public or private? I WSJ
Over the past decade, private equity in emerging markets hasn’t generated the blockbuster returns investors might expect in exchange for risk and illiquidity. However, for investors seeking performance less correlated to developed markets, private equity in emerging markets may be the right strategy compared with public equities.

Five steps to making partner at your private equity firm I PE Hub
Leadership consultancy ghSMART weighs in on what makes a private equity professional go from being a valued member of the team to partner level.

Africa’s testing ground I The Economist 
Many believe that to succeed in Africa, a business must succeed in the Nigeria. Nigeria’s promise has made it a test-bed for the Africa strategies of consumer goods companies. This is due to both its size and also because the spread Nigerian culture around Africa.

Angola’s $5 billion sovereign fund nearing African, global private equity-style deals I Reuters
Angola’s fledgling sovereign wealth fund has identified direct investments in sub-Saharan Africa, and is poised to start deploying up to a third of the $5 billion it has been endowed by the government.

Despite lip service, Silicon Valley venture capital still a man’s world I Reuters
Silicon Valley still lags on recruitment of more women venture capitalists even as other industries with poor gender diversity show improvements.

Venture capital investments on track for a record year in Asia I Wall Street Journal
In the first six months of this year, $2.75 billion was invested in 218 deals throughout emerging Asia, putting the industry on track to pass a five year peak of $2.85 billion invested in 2011, according to data from the Emerging Markets Private Equity Association (EMPEA).

 

Job Opportunities

Information Specialist I Invenfin I Stellenbosch

Invenfin is Remgro’s dedicated venture capital investment company. The position involves heading up the research and intelligence arm of the firm including interacting regularly with the board while providing highly accurate and usable information on prospective investment opportunities.

Private Equity Senior Investment Manager I Symbiotics I Cape Town

Symbiotics is a large independent asset manager dedicated to sustainable and impact investments in emerging markets. They are looking for an experienced Investment Manager with experience with microfinance institutions in Sub-Saharan Africa and transforming them into leading sustainable banks.

Private Equity Senior Deal Executive I African Alliance I Cape Town

African Alliance is looking for a Senior Deal Executive to play a significant role in the Private Equity business on the African continent. The successful candidate will provide direction and leadership towards achievement of the business unit’s strategy and annual goals.

Contact info@savca.co.za to advertise an opening at your firm on our online jobs portal.

Advertising with SAVCA
SAVCA welcomes the opportunity to work with members and stakeholders in promoting the Southern African private equity and venture capital industry. The organisation constantly seeks creative ways of doing so, including through the marketing member firms’ activities. Should you wish to find out more about various marketing and advertising opportunities with SAVCA, contact the office on info@savca.co.za. Please also drop us a line if you would like to advertise an opening at your firm on our online jobs portal.