Thursday, 17 February 2011
Wingate / Safika Holdings Strategic Alliance
Wingate Group is pleased to announce the formation of a strategic alliance between Wingate and Safika Holdings. Safika is one of South Africa’s most substantial and prominent investment holding companies. Their range of interests spans financial services, mining and resources, industrials, transport and logistics, gaming, human resources, telecommunications, media and technology.
Safika has substantial investments in a number of well known South African corporations including Standard Bank, Liberty Life and Ntsimbintle Mining (a partnership with BHP & Anglo American). In 2004 Standard Bank, Africa’s largest banking institution, became a substantial shareholder in Safika. Safika’s Chairman, Saki Macozoma is Deputy Chairman of Standard Bank.
Wingate and Safika have established an investment company in Australia to be known as Winsaf which will serve as a cornerstone investor in Wingate’s private equity (PE) investments in Australia and Asia. The Winsaf capital will be supplemented by co-investment capital from Wingate's clients and co-investors. The Winsaf joint venture will form part of Wingate’s Capital Solutions division, headed by Richard Blumberg. Steve Lipchin, Wingate’s head of private equity and a highly accomplished PE investor (28 transactions, 25 exits and 30% pa IRR over 20 years) together with Richard and Marc Ber (refer below) will be responsible for making PE investments.
Further, Safika will be taking up a strategic shareholding in the Wingate Group and Safika’s CEO, Moss Ngoasheng will be joining Wingate’s main board of directors. Moss is one of South Africa’s most prominent and successful business people. He is CEO and Deputy Chairman of Safika Holdings, a director of SA Breweries Ltd, Dimension Data Holdings PLC and a Trustee of the Nelson Mandela Children’s Hospital, among several other communal and business leadership roles.
Marc Ber, Safika’s Chief Investment Officer, has recently relocated to Australia and will join Wingate as a senior executive as well as CEO of Winsaf Pty Ltd. Marc is a highly accomplished and astute investor. Marc will remain on the board of Safika Holdings and will retain an ongoing involvement with Safika.
We are delighted with this strategic step and look forward to advising you of further developments as they occur.
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