Insights on corporate and team activity within the asset management industry.
Insights on corporate and team activity within
the asset management industry
Sanlam/African Rainbow Capital
Sanlam sells asset management stake to African Rainbow Capital (ARC)
Sanlam and ARC Financial Services (ARC FS) have agreed to ARC FS taking a 25% holding in the third-party business of Sanlam Investments. This transaction is part of a broader initiative planned two years ago, to complete a group of
empowerment transactions. The aim was to effect BEE transformation and create sustainability. ARC is the financial services arm of Ubuntu-Botho – the current empowerment shareholder of Sanlam – and their black ownership is in excess of 90%.
Counterpoint Asset Management
Counterpoint Asset Management acquiress Bridge Fund Managers
Effective 1 September 2020 specialist investment manager, Counterpoint Asset Management, acquired Bridge Fund Managers and combined the businesses to form a multi-strategy investment management company with both retail and institutional offerings. This is Counterpoint’s second acquisition in 2020, after merging with value manager RECM earlier this year. Bridge and Counterpoint will continue to operate separately for the next few months and will gradually integrate until fully merged by the end of the first quarter of 2021. Once the transaction is concluded, the combined business will manage assets of almost R12 billion. Bridge’s existing investment process and philosophy will remain unchanged.