Harith General Partners, a private equity firm founded and led by South African multimillionaire Tshepo Mahloele, has agreed to acquire a 46 percent stake in Mergence Investment Managers, a subsidiary of Mergence Africa Holdings.
In a recent statement, Makhubela, the CEO of Harith, highlighted the potential of this acquisition, stating that it will empower both companies to leverage their combined R59 billion ($3.2 billion) in assets for supporting infrastructure projects and various other investments across the African continent.
Mergence Africa Holdings, the parent company of Mergence Investment Managers, currently manages an impressive R42 billion ($2.2 billion) in assets. This can be attributed to the leadership of South African businessman Masimo Magerman, who serves as the co-founder and non-executive chairman of the company.
With $3.2 billion in combined assets, these companies are poised to play a pivotal role in driving infrastructure development and investment opportunities in Africa.
This alliance is expected to strengthen Harith’s position on the continent, building on its $630 million Pan-African Infrastructure Development Fund (PAIDF). It is also expected to propel Mergence toward new horizons in the financial services and infrastructure sectors.
Harith General Partners, co-founded in 2006 by Mahloele, has a commendable track record of investments in infrastructure projects across nine African countries.
Notable among these investments is the largest wind farm in Africa. The private equity firm is currently in the process of investing in South African Airways, contributing to its position in the African investment landscape.
Mahloele’s influence in the African business landscape extends beyond his leadership at Harith. He also serves as the founder and chairman of the Lebashe Investment Holding Group. Lebashe has cultivated a diverse portfolio encompassing financial services, technology, media, telecom, and more, boasting a net asset value of R3 billion ($159 million)
