Standard Bank, the South African bank, will seek to raise third party money in the next two-to-three years to invest in private equity.
The bank, the biggest lender in the African continent, will focus on completing around 20 deals from its balance sheet before looking to institutional investors to raise a third party fund, reports the Financial Times.
Its private equity practice is focused on emerging markets with teams operating in South Africa and Nigeria. It also has a private equity arm in Turkey through its acquisition of Dundas Ünlü Securities in 2007 and plans to open a further office in Brazil.
Source: Thomson Merger News