The company says the pandemic has demonstrated the benefits of the active management approach of private equity
Investment holding company Ethos Capital, which has stakes in TymeBank, Ster Kinekor and Brait, says it is hopeful the efforts made by investees to get through the Covid-19 pandemic will leave them better businesses, with many having already experiencing a sharp recovery as the worst effects of pandemic ease.
Ethos has a portfolio of 22 companies, including a R214.8m stake in gym-owner Brait, which makes up about 10% of its assets, while its R532m stake in Channel VAS, a provider of airtime credit services, which makes up 28.5% of assets. Ethos Capital’s unlisted portfolio achieved a R107.2m, or 7%, return for the year, the group said, with Covid-19 reducing the value of pandemic-hit businesses, such as media group Primedia and corporate clothing and promotional gifting wholesaler Kevro, by 8%. This implies a 15% return for the remainder of the unlisted portfolio.
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