The Public Investment Corporation (PIC), one of Africa’s largest asset managers, has successfully completed its migration to Confluence’s cloud-based Revolution platform.

The transition marks a significant milestone in the PIC’s modernization program, providing a unified performance, attribution and GIPS Composites solution built on the latest cloud technology. 

The move from the legacy StatPro Seven system to Revolution was completed within six months – faster than typical timeframes for projects of this scale.

“Moving to Confluence Revolution keeps us at the forefront of the technology curve,” said August van Heerden, Chief Risk Officer and Acting Chief Investment Officer at the PIC.

“The new platform consolidates our performance data into a single, cloud-intrinsic source, improving efficiency and giving our teams access to the latest analytical tools and development roadmap from Confluence. Similar projects typically take 12–18 months. Completing this in six months is a remarkable achievement that reflects the commitment and collaboration of all parties involved,” confirmed Khathu Nedzamba, Manager of Performance and Attribution for the PIC.

The PIC upgrade was driven by the need to replace an end-of-life system with a scalable, future-ready solution. Working closely with Confluence’s analytics and implementation teams, the PIC completed the transition ahead of schedule. Confluence teams based in London and Cape Town managed the overall project through its critical phases, with their professionalism and deep technical expertise ensuring a smooth transition for one of South Africa’s largest and most sophisticated institutional investors.

“The PIC’s move to Confluence Revolution underscores its commitment to continuous innovation,” said Craig Arenhold, VP and Director for Confluence South Africa. “Confluence Revolution provides a future-proof, cloud-intrinsic solution that enables clients to harness data more effectively and stay ahead of evolving performance, risk, and regulatory requirements. We are tremendously proud of the success of this project and our longstanding strategic association with the PIC.”

The Public Investment Corporation is wholly owned by the Government of South Africa and manages over ZAR 3 trillion (USD 180bln) in assets, primarily on behalf of public sector entities such as the Government Employees Pension Fund (GEPF).