Nairobi, April 17th, 2019, Britam Financial Holdings and Tiserin Capital Associates signed today an anchor investment agreement that launches Africa’s first south-south private equity fund, Tiserin Capital Fund. Tiserin Capital 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.
Mr. 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 and Aida have developed an innovative approach that seeks to accelerate job creation and transform local industries, both so critical for countries like Kenya.” Innovation is one of Britam’s strategic pillars in the company’s 2016-2020 strategic plan.
Mr. German Vegarra, Founder and CEO, Tiserin Capital, added “we are delighted to have Britam as our partner. We have been 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. Britam understands the role private equity can play in expanding its product base while supporting regional economic growth. We hope this partnership provides a market signal to other regional institutional investors to invest more in private equitiy cementing the role this sector can play as a valid investment proposition.”
Aida Kimemia, Managing Director, Tiserin Capital, added “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.
Mr. Ken Kaniu, CEO, Britam Asset Managers added “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.”
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.
Britam is a leading diversified financial services group listed on the Nairobi Securities Exchange. The group has presence in seven countries in Africa namely: Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique and Malawi. The group offers a wide range of financial solutions in Life Assurance, General Insurance, Health Insurance, Retirement Planning, Asset Management and Property. These solutions enable our customers to protect and grow their wealth and achieve their financial goals every step of the way.