Dear SAVCA Members and Friends,

An Industry on the Move

A consortium of SAVCA members has acquired 80% of Johannesburg-based logistics group RTT, signifying the appreciation within the private equity industry for assets with a balanced exposure to African consumer growth. The deal, which brought Ethos Private Equity, Development Partners International and the PIC together on the buyers’ side, is also an indication of more activity to come, as private equity funds make use of capital raised over the past few years.

On the exits end of the private equity investment cycle, further announcements are likely, too. Following on the recent announcement about the sale by Ethos Private Equity and Actis of Alexander Forbes, there is news that Vox Telecom, a portfolio company of Lereko Metier, is preparing for a change of ownership.

The general increase in industry action has been reflected in rising membership activity at SAVCA: Our membership list has been bolstered by fifteen new firms since the year began and our training, information and networking events are catering to this growth.

The SAVCA legal and regulatory briefing on 22 July will be an opportunity for Johannesburg- and Cape Town-based members to hear feedback from the SAVCA Regulatory Sub-Committee, on matters ranging from taxation and reporting, to licencing and empowerment requirements in the industry.

The SAVCA-GIBS Three-Day Foundation Programme in Private Equity is set for 6-8 August 2014. This exciting programme, with around twenty confirmed speakers, includes a cocktail function on Thursday 7 August, sparkling lunches and cosy coffee breaks.

SAVCA is again partnering with Environmental Business Strategies (EBS) to present the SAVCA Master-Class in ESG, entitled “Calculating non-financial ROE”. This session, which will run in Cape Town and Johannesburg, builds on the previous ESG master-classes offered by SAVCA and EBS, and offers a general orientation to the evolving ESG debate in institutional investing.

New on the annual SAVCA calendar is the SAVCA Venture Capital Foundation Course. The two-day session, on 8-9 September 2014, is designed to provide training on the essential elements of venture capital management in South Africa. The course will develop participants’ skills in investment selection, due diligence techniques, valuation principles, legal closing, business growth strategies and exit positioning.

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

Regards

Erika van der Merwe
CEO: SAVCA

SAVCA Events

Legal & Regulatory Briefing to SAVCA Members (Johannesburg and Cape Town)
Date: 22 July 2014 @ 8:00 am – 9:30 am
Venues:
Johannesburg: Webber Wentzel Auditorium; 10 Fricker Road, Illovo
Cape Town (via video link): Main Boardroom; 15th Floor, Convention Tower, Heerengracht, Foreshore
Parking will be available at the venues
RSVP: Booking is essential: The SAVCA Office on info@savca.co.za or +27-11-2680041
Click here for further information

Pension Funds and Private Equity: Unlocking Africa’s Potential
Date: 23 July 2014 @ 4:00 – 6:00 pm
Venue: Park Inn Hotel, 118 Katherine Street, Sandton, Johannesburg
RSVP:  Booking is essential: The SAVCA Office on info@savca.co.za or +27-11-2680041
Click here for further information

SAVCA-GIBS Three-Day Foundation Programme in Private Equity
Dates:  6-8 August 2014
Venue: Gordon Institute of Business (GIBS), 26 Melville Road, Illovo, Johannesburg
Cost:    R8 500 for SAVCA members; R9 500 for non-members
Click here for further information and to register

The Latin America Africa Investors Summit
Date:    12 August 2014
Venue: The Hyatt Regency, 191 Oxford Road, Rosebank, Johannesburg
Click here for further information

SAVCA – Edge Growth Enterprise Development Breakfast
Date:    20 August 2014 @ 8:00 am – 10:30 am
Venue: The Venue, 17 The High Street, Melrose Arch.
RSVP:  Booking is essential: The SAVCA Office on info@savca.co.za or +27-11-2680041
Click here for further information

SAVCA Master-Class in ESG – “Calculating non-financial ROE” (Johannesburg and Cape Town) 

Johannesburg:
Date:    25 August 2014
Time:   Arrival at 8:00; course to end by 1:00pm
Venue: Bowman Gilfillan, 165 West Street, Sandton, Johannesburg

Cape Town:
Date:    8 September 2014
Time:   Arrival at 8:00 and course to end by 13:00
Venue: Bowman Gilfillan, 22 Bree Street, Cape Town
Click here for further information

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

Keep up to date with all our events and courses on our online calendar.

Regulation

FAIS licencing matters for South African private equity

The FAIS exemptions granted to private equity, through Board Notice 208 of 2012, have been extended to June 2015. The formal statement by the FSB Financial Services Deputy Registrar is available here.

SAVCA in the news

Private equity remains a competitive long-term option I Insurance Times

Private Equity has good investment opportunities for pension funds I The East African

SAVCA members in the news

Ethos Private Equity consortium acquires 80% of RTT I BDlive

Actis sells further 6.7% of Umeme as retail and management tranche oversubscribed I Actis

Vox Telecom of South Africa plans exit for private equity owners I Bloomberg

Phatisa launches IRR-calculator app I Vimeo

Rothschild raises $530m for its first Africa-focused fund | African Review

Convergence Partners Eyes African Markets I Business Tech

All Eyes on Africa as Deal Volumes Recover I Fox Business

Industry News and Insights

Preqin: Quarterly private equity fundraising exceeds $100 billion for fifth consecutive quarter I Pensions and Investments

Carlyle co-founder David Rubinstein on outlook for private equity and hedge funds | CNBC

Globally, private equity fundraising is on course for best year post crisis | Opalesque.com

The buy-and-build strategy – spotlight on a private equity trend | Forbes

Growing private equity inflows into Sub-Saharan Africa | FTSEglobalmarkets.com

Africa private equity: a building momentum with those who have Faith I The National Law Review

Job Opportunities

Junior Fund Accountant Fund V I Ethos Private Equity I Johannesburg

Fund Accountant: Reporting Fund V I Ethos Private Equity I Johannesburg

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

Advertising with SAVCA

SAVCA welcomes the opportunity of working 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.

Contact the SAVCA office with any queries:

+27-11-268-0041