TRG to acquire African asset manager Ethos Private Equity

Lazard Ltd advised TRG on the transaction.

  • Since 1984 Ethos has made over 150 investments supporting South African and sub-Saharan businesses
  • TRG specializes in emerging markets and real assets
  • Currently, Ethos has $1.7 billion in assets under management

The Rohatyn Group has agreed to acquire Ethos Private Equity, an alternative asset management firm in Africa. No financial terms were disclosed.

Since 1984 Ethos has made over 150 investments supporting South African and sub-Saharan businesses.

“The philosophical and cultural similarities of TRG and Ethos were apparent from the start,” said Nicolas Rohatyn, The Rohatyn Group’s CEO and founder, in a statement. “We share a belief that multiple thematic cross currents, such as private credit, renewable energy, digitalization, and agriculture, among others, will anchor future investment priorities for investors. Our combined firm, with almost $8 billion in assets under management, almost 400 institutional LPs, and the ability to offer solutions for de novo investing, as well as ongoing GP consolidations and fund restructurings, will occupy a unique position in our industry.”

Lazard Ltd advised TRG on the transaction.

Founded in 2002, TRG specializes in emerging markets and real assets. The New York based firm currently has approximately $6 billion in assets under management.

Currently, Ethos has $1.7 billion in assets under management.