Old Mutual Private Equity (OMPE), part of Old Mutual Alternative Investments, has secured a strategic commitment from E Squared Investments for its Fund VI, further strengthening the fund’s position as a long-term investor in high-quality, resilient South African businesses operating across the real economy.
The investment aligns with E Squared’s Fund of Funds strategy, which supports high-performing fund managers, entrepreneurs and businesses capable of delivering strong commercial returns alongside measurable social outcomes. Through this approach, E Squared aims to build a diversified portfolio with exposure to differentiated return profiles across the private market spectrum, while contributing to inclusive economic growth and sustainable value creation across South Africa and the continent.
OMPE Fund VI focuses on investing in high-quality businesses, in partnership with strong management teams, that demonstrate compelling growth tailwinds and high cash generation. The Fund targets companies operating in sectors critical to long-term economic development, including manufacturing and the broader industrial sector, education, healthcare, financial services, tourism and consumer sectors.
OMPE’s investment strategy is centred on backing market-leading businesses with strong operational fundamentals and long-term growth potential, while driving measurable improvements in employment and transformation outcomes at portfolio company level. The Fund Manager’s main focus is to invest in South African businesses, although OMPE has invested across the broader African continent, often through its South African portfolio companies.
The partnership reflects strong alignment between E Squared and OMPE around long-term investing, responsible capital allocation, transformation and sustainable business growth.
“This commitment marks E Squared’s first private equity fund investment, anchoring the later end of our risk curve and generating distributions that can be recycled into earlier-stage, catalytic investments central to our mandate,” said Pyi Maung, Chief Investment Officer at E Squared. “OMPE’s disciplined investment approach, strong track record, and focus on building resilient South African businesses align closely with our Fund of Funds strategy and long-term investment objectives.”
Yasthira Ramdenee, E Squared Head of Growth Investment, added. “What stood out to us was OMPE’s ability to identify high-quality businesses that are both commercially resilient and capable of delivering meaningful developmental impact. Their investments demonstrate how private equity can create lasting value by strengthening skills, expanding access to employment, and generating attractive returns for investors.”
Old Mutual Private Equity has more than two decades of private equity investing experience across multiple sectors and market cycles, partnering with management teams to scale and strengthen businesses through active ownership and operational value creation.
“We are pleased to welcome E Squared as an investor in Fund VI,” said Jacci Myburgh, Co-head of OMPE. “There is strong alignment between our organisations in how we approach long-term investing, partnership and impact. We continue to see compelling opportunities in South Africa, particularly in businesses that are well-positioned to grow, create employment and deliver long-term value.”
Chumani Kula, Co-head of OMPE, added: “Our focus remains on partnering with management teams to build stronger, more sustainable businesses over time. We believe South Africa continues to present attractive opportunities for disciplined private equity investment, particularly in sectors that are central to the country’s long-term economic development.”OMPE Fund VI has already completed investments in Much Asphalt, a leading asphalt and bitumen supplier in South Africa, supporting South Africa’s road infrastructure, and Honoris United Universities, a pan-African higher education platform serving more than 100 000 students across 26 cities and 16 institutions in South Africa, Morocco and Nigeria.