Britam Financial Holdings has approved an anchor investment in Tiserin Capital, Africa’s first south-south private equity fund that  seeks to transform local industries by weaving partnerships between African companies and leading companies from Emerging Asia and Latin America. 

The investment is a breakthrough in the region’s financial markets highlighting the important role pension funds, insurance and other local investors can play in supporting long term investments in the region. 

Benson Wairegi, Britam’s CEO, said: “Britam continues to set the pace on innovation and service in the Sub-Saharan Africa region. We are excited about this new partnership with Tiserin Capital that introduces us directly into the private equity space, an area with considerable potential in the region. German Vegarra and Aida Kimemia have developed an innovative approach that seeks to accelerate job creation and transform local industries, both so critical for countries like Kenya.”

Tiserin Capital is a partnership between Britam and CVG Capital LLC of the USA. 

The Fund focuses in real sector industries and targets investments in East Africa, Ethiopia, Mozambique and South Africa. 

The United Nations estimates that there is approximately $60bn in sub-Saharan Africa pension funds (ex-SA) that could be mobilized to support private equity and infrastructure investments in the region. 

Kenneth Kaniu, CEO of Britam Asset Managers, said: “Countries like Indonesia, India, Philippines, Peru and others have followed a socio-economic growth pattern that may provide regional economies a blueprint of what is to come to the region over the next decade. Leading companies from these countries can help local companies to accelerate their growth by transferring industrial and management know-how and strengthen their competitive base.” 

“We are always thinking of how to expand our investment offering to our institutional and high net worth clients. Alternative investments like private equity are rapidly gaining interest from our clients. Tiserin Capital puts us on the driver seat giving us valuable experience to grow our private equity investments,” he said. 

German Vegarra, CEO, Tiserin Capital, added: “We are delighted to have Britam as our partner. We are impressed by Britam’s regional expansion, its push for innovation, and the stamp of approval provided by leading investors like IFC, Swiss-Re and AfricInvest.”