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AGF Magazine - April 2019 issue

  • In a region where only a minority of the population has access to a bank account and SMEs struggle to get financial help from traditional banks, Albert Alsina, CEO and Founder of Mediterrania Capital Partners, explains how the PE industry is becoming a catalyst for the African Fintech ecosystem’s development, enabling large-scale banking and supporting entrepreneurs and SMEs in their expansion plans (pp. 10-12).
  • In this month’s issue of Africa Global Funds, we also caught up with Kenneth Kaniu, Britam Asset Managers CEO, to learn about their anchor investment in Tiserin Capital, and the needs and constraints of institutional investors in Kenya and East Africa (pp. 14-15).
  • On the infrastructure front, we hear from Moritz Breickmann, Investment Director at African Infrastructure Investment Managers (AIIM) who showcases some successful airport redevelopments in Africa. Read on to find why airport infrastructure projects on the continent can provide attractive long term returns to investors (p.17).
  • In this month’s issue we also learn that the FTIF Templeton Africa Fund was merged into the FTIF Templeton Frontier Markets Fund. We speak with Ahmed Awny and David Haglund about the Fund and its African investments (p.16).
  • Finally, Rob Childs, Head of International for Prescient Fund Services shares his views on the global distribution challenges facing African fund managers and why the firm decided to domicile their offshore fund range in Ireland (p. 22).
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News > Private Equity > Deals

PAPE Fund 3 takes stake in South African logistics company

Africa Global Funds
Aug. 5, 2018, 3:28 p.m.

Word count: 256

PAPE Fund 3 has acquired a 48.3% equity interest in Laser Group, one of South Africa’s largest independently owned logistics companies. 

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PAPE Fund 3 has acquired a 48.3% equity interest in Laser Group, one of South Africa’s largest independently owned logistics companies. 

Zuko Kubukeli, PAPE Fund Managers CEO, said the acquisition of this stake in Laser is the culmination of more than a year of sustained interaction with the logistics group, focussing on realising a viable management buyout from existing shareholders. 

Laser Group’s key executives will continue to own 51.7% of the business.

PAPE Fund 3’s mandate is to deploy investors’ capital into targeted mid-cap, unlisted South African businesses that demonstrate high growth potential and the opportunity to transform the South African economy. 

Laser is a well-established enterprise with a highly competent management team and pedigreed international partners. PAPE Fund 3 views this business as holding enormous potential for future growth and expansion.

Philip Hayes, Chairman of Laser, welcomed the acquisition: “This transaction brings to our group a Level-1 BBBEE rated shareholder with whom we can engage to grow our business in our both our core markets and new niche markets.” 

“All of our operating brands – DPD Laser, Dawn Wing, Time Freight, Laser Logistics and GAC Laser – stand to benefit hugely from our partnership with PAPE Fund 3. The transaction has also enabled and empowered the Executive team to take ownership of the business and grow this to new levels of performance and profitability.”

PAPE Fund 3 is a newly established boutique private equity fund that realised its first closing on July 11, 2018 with ZAR471m in initial capital commitments. 

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