"Private equity and especially venture capital should be underpinning the investment drive into South Africa," according to the director general of South Africa's National Treasury, Lesetja Kganyago, speaking at the unquote" South Africa Private Equity Congress today in Cape Town. The government has a target investment-to-GDP ratio of 25%; it has grown from 15% four years ago to 22% today. Despite the problems facing all markets during this part of the cycle, South African private equity is set to carry on growing since indigenous players built their track records during very challenging times, according to John Gnodde at Brait Capital, one of South Africa's largest buyout groups. They are therefore well placed to overcome difficulty.
Exit from Main Fund V comes three years after the GP acquired the Germany-based procurement technology company
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Lucie Cawood's appointment follows poaching of Ian Shawyer by Cleary Gottlieb earlier this month
New entrants scared by remarks on limiting profits; existing investors expected to rush to complete bolt-ons