Transaction Summary
Mergence Investment Managers Lesotho (Mergence) has completed its acquisition of Sanlei Premium Trout (Sanlei), the largest trout farming company in southern Africa. Mergence purchased the remaining 51% of Sanlei shares from One Thousand & One Voices (1K1V), an Africa-focused private equity firm backed by family offices and prominent families. 1K1V acquired a controlling stake in Sanlei in 2017 before selling an undisclosed portion (estimated at 49%) to Mergence in 2019. Following this latest buyout, Mergence plans to expand Sanlei’s export operations, targeting new markets in the European Union and the Far East. Mergence’s investment in Sanlei is part of its private equity portfolio, managed on behalf of the Public Officers Defined Contribution Pension Fund (PODCPF) in Lesotho. With $700 million in assets under management, PODCPF is Lesotho’s largest pension fund, accounting for two-thirds of the country’s pension assets and representing the primary domestic investor in private equity.
Terms
- Fund Managers: Mergence
