Lereko Investments (Lereko) and Metier announced the launch of the Lereko Metier Capital Growth Fund (LMCGF) at a celebratory launch held in Johannesburg.

The launch, which was attended by Deputy President Phumzile Mlambo-Ngcuka and Paul Mashatile – MEC Department of Finance and Economic Affairs, was a celebration of the collaboration between Lereko and Metier.

Lereko and Metier have been working together to create a private equity fund that is focused on partnering, mentoring and investing with selected entrepreneurs in growth companies in South Africa. Most of the fund’s capital was raised locally and it concentrates largely on domestic investments of up to R750 million with capital available of more than R3.5 billion. Founding partners Lereko and Metier have both established strong businesses with competent and experienced management teams.

The 20 years of experience in the financial industry coupled with substantial credibility in managing the process of political transition was crucial in raising capital for the fund which manages capital of over R3.5 billion in value. Principal and Chief Executive of the Lereko Metier Capital Growth Fund, Thierry Dalais, said “We have been in this business for a long time and I am proud to be involved in this effort. Our franchise is empowered, skilled, widely networked and well funded.”

LMCGF has received strong support from its local investors and its initial investments have demonstrated outstanding growth value. So far the fund has invested in amongst others Libstar, South Point, Vox Telecom and York Timbers.

Libstar – Liberty Star is a growing food and consumer products platform that is controlled by Lereko Metier.

South Point is an urban regeneration business serving the accommodation needs of students and young professionals, whose direct impact in social rejuvenation is a showcase of the fund’s ability to participate and grow the South African economy in an enterprising and transforming manner.

Principal and Executive Chairman of Lereko Metier Capital Growth Fund, Valli Moosa, stated “Lereko and Metier have been in partnership with a common goal of investing in sectors that capture sustained growth and contribute to the development of South Africa.”