Media

Lereko, Metier unveil R3,5bn investment fund

Engineering News

February 1 , 2008

Black-empowered investment company Lereko and Metier announced the launch of a R3,5-billion private-equity fund at a function in Johannesburg on Thursday, attended by Deputy President Phumzile Mlambo-Ngcuka and Gauteng's finance chief Paul Mashatile. The so-named Lereko Metier Capital Growth Fund (LMCGF) would focus on partnering, mentoring and investing with selected entrepreneurs in socially South African "growth companies". The bulk of the fund's capital has been raised locally and would be disbursed mostly into domestic investments of up to R750- million.

LMCGF CE Thierry Dalais, said the fund had received strong support from its local investors and its initial investments have demonstrated outstanding growth value. So far the fund has invested in amongst others food and consumer products firm Libstar, urban-regeneration business South Point and JSE-listed companies Vox Telecom and York Timber. The fund's principal and executive chairperson Valli Moosa, who is also Eskom chairperson and a member of the ruling African National Congress' National Executive Committee, said both partners share a common goal of investing in sectors that capture sustained growth and contribute to the development of South Africa.

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