The Hybrid Capital capability seeks to provide investors with an attractive pay off profile that delivers approximately 80% of equity like returns at approximately half of the risk. This is achieved through the combination of debt like features which provides capital protection and liquidity, and the equity like features which provides the outperformance.

We invest in established companies with growing revenues that require capital to fund growth initiatives be it organic or acquisitive growth. These companies typically have high quality management teams where we have often funded management and leveraged buyouts of these businesses.

We focus on quality and only investment in companies with:

• Established track records;
• Proven cash flows, with strong prospects;
• Experienced, proven, quality management teams;
• Established market presence, and excellent competitive positioning, in solid industries

Providing financing for established and well-governed BEE-related transactions, is a key focus area of the Hybrid Capital capability as we seek to demonstrate our commitment to empower and transform South Africa. As a team, we are passionate about using investor capital to generate attractive risk-adjusted returns, and to make a lasting, positive impact in South Africa.

Through our disciplined investment process we have for over 15 years successfully generated returns that have consistently outperformed its benchmark, and most asset classes without enduring any capital loss. We have a demonstrable track record of outperformance through different market cycles where we have provided structured and bespoke solutions to borrowers across various sectors and industries.