Public Investment Corporation

The Public Investment Corporation (PIC) is a government-owned investment management company based in Pretoria, South Africa, established in 1911. As the only firm in the country that focuses exclusively on the public sector, PIC manages assets for a range of public entities, including pension funds, social security funds, and development funds. With its operations comparable to those of private sector asset managers, PIC is recognized as one of the largest and most successful investment managers in Africa. The organization employs a combination of both internal and external fund managers to oversee its investments, ensuring a diverse and strategic approach to asset management. The governance of PIC is overseen by a board of directors, which is responsible for directing the management of the fund's assets.

Santosh Lalloo

Fund Principal, Private Equity

Past deals in Southern Africa

Karan Beef

Acquisition in 2018
Karan Beef is a prominent supplier of beef products in South Africa, known for its commitment to high standards of productivity, hygiene, and overall maintenance. The company serves the local meat industry by offering a diverse range of products, including both boneless and bone-in beef, as well as various cuts such as ribeye, rump, striploin, blade, brisket, and thick skirts, along with offals and other related items. Karan Beef aims to set a benchmark for excellence in the industry, ensuring quality and reliability in its offerings.

ZAR X

Funding Round in 2018
ZAR X is a licensed stock exchange that aims to enhance market efficiency through innovative financial technology. By providing an intuitive trading platform, ZAR X allows investors to trade with minimal costs, thereby reducing financial barriers and saving time. The company focuses on creating new opportunities in finance, making the investment process more accessible and efficient for all participants in the market.

South Point

Acquisition in 2015
South Point was established in 2003 to meet the growing need for student accommodation in South Africa. When we entered the property business we found exploitative landlords to be the prevailing alternative to on-campus housing. The majority of students resided in poorly maintained and expensive accommodation - hardly conducive to promoting a successful study and social environment. We, therefore, sought to focus our efforts on providing a differentiated offering to the student market, with an emphasis on safety, cleanliness, and affordability at the core complimented by a vibrant student community. South Point’s vision to become the country’s largest and leading independent provider of student accommodation outside of the universities themselves has been largely realized in the 9 years since operations commenced. We, however, continue to strive to create a lifestyle brand of distinction where students come to [reside with us while they] catapult their ambitions of personal growth through higher education. We still harbor ambitions yet of creating a business of even larger scale with more than 20,000 student beds without compromising the overarching objective of creating a unique experience for every student that chooses to be part of our community.
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