Fund Formation

We have significant experience in fund formation, dating back to the early 1990s when we assisted in the formation of some of the first third party blind pool funds established in our market. Today we act for local and international private equity and venture capital houses looking to raise funds for deployment in South Africa as well as in Africa generally, and also for limited partners looking to invest in those funds.

Together with partners from our tax team who focus on international tax, we ensure efficient structuring from a tax and exchange control perspective for limited partners and for private equity executives.

Our network of relationships with other international firms allows us to form Africa-focused funds domiciled both locally and abroad. In addition to South Africa, we have assisted clients to establish funds in Botswana and Mauritius, as well as in a number of non-African jurisdictions.

Funds which we have advised on cover the full spectrum of generalist funds and sector funds, including real estate, agriculture, technology, healthcare and infrastructure funds.

Some recent examples of concluded mandates include:

• advising Absa Bank in connection with the raising of Absa Capital Private Equity Fund I;
• advising Capitalworks Investment Partners in connection with the raising of a suite of funds, including Capitalworks Private Equity Fund and Capitalworks Partnership and Special Opportunities Fund;
• advising Ethos in connection with the raising of Ethos Private Equity Fund V;
• advising West Central in connection with the raising of West Central Distressed Debt Fund;
• advising Genesis in connection with the raising of Genesis Capital Venture Capital Fund; advising Business Partners International Kenya on their SME Fund;
• advising an anchor international investor in Agri-Vie Fund PCC, a Mauritian-domiciled agri fund with an African focus; and
• advising a first-close investor in ECP Africa Fund III, a Mauritian-domiciled fund with an African focus.