A spinoff of Ethos Private Equity has created a black-owned fund manager

A new independent and black-owned equity fund manager, Infinite Partners, has been established as a result of investment manager Ethos Private Equity’s spinoff of its Mid Market Fund.

The new fund manager created through the spinoff procedure has a founding team that is 75% female and 100% controlled by people of color.

“Ethos Mid Market Fund I,” which received capital commitments totaling R2.5 billion in 2018, will continue to be managed by Infinite Partners, according to Ethos Private Equity.

According to Ethos, it will have a 25% stake in Infinite Partners and have board representation.

Edward Pitsi, the CEO of Infinity Partners, Titi Sekhukhune, and Tabane Matheolane are among the original partners.

Pitsi, Sekhukhune, and Matheolane have been coworkers for ten years and have worked on investments in a range of industries and stages of development.

The founding team also includes Naomi Nethengwe, who will serve as a principle and has been a member of the Ethos Mid Market Fund team for four years.

new fund requirements

Pitsi said the Infinite Partner is ready to start the process of communicating to investors to bring about new fund mandates when discussing the split and future plans for the new company.

He claimed that these new missions will include traditional, specialized, and long-dated capital.

“The team and I shared an ambition to be more independent and pursue diverse investment strategies,” added Pitsi.

The organization Stuart MacKenzie heads will continue to be a multi-fund platform with a sizable presence throughout Africa, according to Stuart MacKenzie, CEO of Ethos Private Equity.

“[It] will continue to pursue growth and diversification opportunities for its product offering and geographic footprint” he added.

MacKenzie said that the spinoff move and creation of Infinite Partners represents “a continuation of Ethos’ long history of supporting black-owned managers.”

“We remain committed to growing the local private equity industry and we will continue to invest in South Africa through multiple, complimentary strategies,” he pointed out.

Ethos Private Equity is associated with Mauritius-based EPE Capital Partners Ltd (Ethos Capital), which debuted on the Johannesburg Stock Exchange in 2016. Ethos Capital is also listed on the JSE.

Direct investments made by Ethos Capital are made into funds or co-investments run by Ethos Private Equity.