Ubuntu-Botho Investment Holdings has acquired a 25 per cent stake in Blue Ink Investments, a South African fund of hedge fund manager.
Ubuntu-Botho Investment Holdings has acquired a 25 per cent stake in Blue Ink Investments, a South African fund of hedge fund manager.
UBIH’s 25 per cent stake was acquired from Swiss-based alternative asset manager Octane Holdings for an undisclosed amount.
Following the transaction, Blue Ink Investments will be 50 per cent Sanlam owned, while Octane and Ubuntu-Botho Investment Holdings will each own a 25 per cent stake.
Patrice Motsepe (pictured), UBIH’s chairman, says: ‘Our broad based empowerment shareholders will benefit from this transaction. Poor and unemployed South Africans will also benefit through the Sanlam Ubuntu-Botho Community Development Trust."
Ubuntu-Botho Holdings owns 55 per cent of UBIH and the shareholders of UBIH comprise of various broad based interest groups who represent shareholders in South Africa’s nine provinces and includes women, church, trade unions, youth, traditional and community leaders and small and micro business owners. Sanlam Black Management employees are also part of UBH.
Esmarie Strydom, chief executive of Blue Ink Investments, says: ‘We are confident that our combined networks will provide us with opportunities to attract new clients and grow our market share, particularly in the institutional market.’
UBIH will make an appointment to the board of Blue Ink Investments on completion of the transaction.
