Thursday, April 18, 2019 UTC

AGF Magazine - March 2019 issue

  • We focus on fixed income opportunities in both public and private markets. Read on to find in which fixed income instruments and in which African markets to invest on pp. 10-11. In addition, Ashley Benatar of Ashburton Investments shares his views on benefits and risks of investing in mezzanine debt on p.22.
  • We speak with Jérémie Ceyrac, Head of Equity, Responsible Investments at Proparco to learn more about the French development institution, financial products on offer, recent investments in Africa and African impact investment scene (pp. 13-15).
  • This month’s market feature focuses on Nigeria. Sven Richter, Fund Manager, Drakens Capital, writes about his recent trip to the West African country and his observations. “While Nigeria is attractive as an investment destination, the GDP growth is a disappointment for a county that we expect to be one of the leaders in Africa,” he says (pp. 16-17).
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News > Private Equity > Deals

Britam invests in PE firm

Africa Global Funds
Feb. 5, 2019, 10:49 p.m.
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Word count: 268

Britam Asset Managers has invested Kes1.4bn in Everstrong Capital, a private equity firm that invests in energy assets in Africa, in a bid to diversify and grow its investment portfolio.

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Britam Asset Managers has invested Kes1.4bn in Everstrong Capital, a private equity firm that invests in energy assets in Africa, in a bid to diversify and grow its investment portfolio.

In turn, Everstrong Capital has used the funds to buy a stake in the Heavy Fuel Oil (HFO) Athi River II Power Plant owned by Gulf Energy, one of the top oil and energy players in East Africa.

The 80.32MW diesel plant is located 25km south-east of Nairobi in Athi River. It was commissioned in October 2014 and is owned and operated by Gulf Energy, an independent power producer. Its decommissioning date is 2034, a lifespan of 20 years.

Kenneth Kaniu, CEO of Britam Asset Managers, said: “Through this investment, Britam’s Asset Managers institutional clients will achieve diversification not only across asset classes but also across currencies.” 

“This is because the returns from the power plant will be in hard currency. Britam Asset Managers clients will have more stable and less volatile returns and they will benefit from the diversification this asset provides,” he said in a statement.

Britam Asset Managers is the Asset Management subsidiary of Britam Holdings PLC. 

The Company was incorporated in April 2004 and started operations in 2006 to fill a gap in quality Fund Management and Investment Advisory services to individual and institutional investors. 

The Company is licensed as a Fund Manager by both the Capital Markets Authority (CMA) and the Retirement Benefits Authority (RBA) in Kenya. The company has grown remarkably to become an influential player in the financial services sector with assets under management of over $1bn.
 

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