The independent investment management business, ALUWANI Capital Partners (ALUWANI), announced today that its senior management will acquire an additional 40% stake in ALUWANI from Momentum Metropolitan Holdings and another 20% from BEE partners. Post the transaction, ALUWANI’s shareholding will be majority held by founding members and staff.  

In 2015, five individuals from Momentum Investments’ management team undertook a management buyout of a portion of the third-party institutional book managed by Momentum Asset Management to form ALUWANI Capital Partners. As part of the transaction, Momentum Metropolitan maintained a minority shareholding in ALUWANI. 

Says Jeanette Marais, CEO of Momentum Investments and Deputy CEO of Momentum Metropolitan Group: “We believe in the importance of developing black-owned institutions in the South African economy. We are proud that we were instrumental in establishing ALUWANI as of one of South Africa’s largest black-owned asset management companies at the time and that we have been part of their growth over the last seven years. We wish them further success on their journey. Although this corporate transaction shifts shareholding, we will continue to consider ALUWANI’s capabilities where their approach and results align to our outcomes-based investment strategy.”

Sibusiso Mabuza, CEO of ALUWANI, “We have built a strong foundation with the support of our initial shareholders and are looking forward to a new chapter in our journey.”