said it will acquire South Africa’s Ethos Private Equity to help the US investment firm expand on the continent.
Brait, backed by South African tycoon Christo Wiese, in 2019 hired Ethos to manage its portfolio including UK apparel chain New Look and Virgin Active gyms. MacKenzie didn’t disclose financial details of the acquisition.Ethos’s investments in the technology space include Crossfin Holdings, IHS and Eaton Towers.
Africa’s need for funds to finance infrastructure projects is massive. While there are about $2.5-trillion of public works in the pipeline on the continent, many won’t be completed because of lack of funding among other constraints, according to McKinsey & Co. That’s where companies such as Rohatyn can help.The deal will give New York-based Rohatyn access to one of the fastest growing regions in the world, said Nicolas Rohatyn, who started the business in 2002.