Despite global gender transformation efforts, women held only 34% of senior leadership positions across the world in 2025. But according to the same 2025 Grant Thornton Women in Business Report, South Africa is comparably making encouraging strides, with 47.2% of senior management roles held by women. By deploying capital responsibly, private equity funds have a key role to play in furthering this momentum.
This is according to Adelè Zeelie, ESG Specialist at EXEO Capital, who says that private equity firms hold a critical lever in ensuring women are represented in governance, decision-making, and at all levels of business. “Sustainable Development Goal 5 (SDG 5) focuses on realizing gender equality and empowering all girls and women. At EXEO Capital, we align with these global efforts and encourage our portfolio companies to support our core values and help promote gender parity,” says Zeelie.
Investing in the success of women has a resounding socio-economic multiplier effect. According to Lynette Thomas, Funds and Investor Relations Lead at EXEO Capital, a change in one economic activity, such as a woman earning an income, creates ripple effects that extend across her household, community, and the wider economy to break poverty cycles and promote sustainable development.
Driving gender parity through private equity investments requires a proactive approach as meaningful change is rarely achieved by waiting for the representation gaps to close on their own. “Private equity firms have the opportunity to drive gender transformation within their portfolio companies,” says Zeelie. She explains that to do this, EXEO Capital utilises a Gender Lens Investing (GLI) approach. “GLI is the deliberate incorporation of gender factors into investment analysis and decision-making, to improve business and social outcomes.” This involves promoting gender diversity across the investee portfolio through key initiatives like policies on gender-based violence and harassment, staff training, a dedicated gender diversity course, and the creation of internal forums to support training and monitor progress over time.
For private equity firms, leadership is not simply a governance consideration, but also a value-creation lever that can strengthen organisational resilience, decision-making and long-term growth. “The GLI approach has grown significantly in recent years, with more than $7.9 billion in capital deployed with a gender lens as of 2023,” says Zeelie. She adds that at a fund level, firms with at least one female senior partner exhibit approximately 10% better financial returns compared to firms that do not have any women.
One example that the team points to is leading private higher education institution, Eduvos, which is part of the EXEO Capital-anchored NetEd Group. “Eduvos exemplifies the impact of gender-diverse leadership, where women hold key leadership positions, in driving meaningful and lasting change. The organization demonstrates how intentional investment in leadership and culture can contribute to growth and long-term impact,” says Thomas. With a female executive leadership contingent of almost 72%, Eduvos staff are united by shaping potential, student by student, towards Africa’s prosperity.
Eduvos CEO Dr Siegie Brownlee says that one of the greatest gifts that education gives someone is confidence. “Once people begin believing in themselves, they start seeing possibilities they never imagined before,” says Brownlee. She adds that this commitment to diversity strengthens governance, drives innovation, and enhances performance, earning Eduvos recognition as one of South Africa’s fastest-growing companies. Student enrolment has grown by approximately 30% per year since investment.
For EXEO Capital, creating value takes more than providing capital. It requires a long-term commitment to developing both the businesses and its people through strong leadership and effective governance. By actively supporting female leadership within portfolio companies, private equity firms can help creating stronger leadership teams, more resilient businesses and, ultimately, stronger investment outcomes.