Kagiso Asset Management changes its name as staff and management take control of the business

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 Kagiso Asset Management has changed its name to Camissa Asset Management following corporate restructuring that saw staff acquire a 74% stake in the business.
Kagiso Asset Management has changed its name to Camissa Asset Management following corporate restructuring that saw staff acquire a 74% stake in the business.
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  • The management and staff members of Kagiso Asset Management now own 74% of the company.
  • The founding shareholder Kagiso Tiso Holdings sold its 50.1% share to focus on fewer large investments.
  • Kagiso changed its name to Camissa Asset Management after that corporate restructuring.

Twenty-year-old Kagiso Asset Management is now Camissa Asset Management.

The company changed its name following corporate restructuring, which saw staff acquire shares in the business.

The company said its founding shareholder Kagiso Tiso Holdings (KTH) sold its 50.1% share in the business to staff and management of Kagiso Asset Management. It sold another portion to Sinayo Capital.

Kagiso Asset Management's staff now own 74% of the company through a joint shareholding. Sinayo Capital owns a minority stake of 26%.

The transaction has also boosted Kagiso's BB-BEE credentials because of increased direct black female ownership. The business is now 30% owned by black women via Sinayo Capital.

"This transaction is a positive development at a time when our business is on a strong growth trajectory," said Kagiso Asset Management CEO Roland Greaver.

"Majority staff ownership and greater independence further strengthen the business foundations for the next phase of delivering for our valued clients," he added.

KTH CEO, Paballo Makosholo, said the company's 20-year association with Kagiso Asset Management had been "very rewarding". But it sold its stake because it wanted to focus on fewer large investments.

Gavin Wood, the chief investment officer and co-founder of Kagiso Asset Management, said clients will benefit from the greater alignment of staff and management's interest with theirs.

"Staff ownership promotes a long-term orientation and vision, which aligns well with our high conviction, active investment approach. It has also assisted our team to be remarkably stable over the last two decades. This transaction will bolster our ability to continue to retain the best professionals in the market," he said.

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