Private equity firm names TransCentury man partner

Money Markets

 

Listed companies on Wednesday agreed to a raft of commitments designed to improve diversity, including an agreement to constitute their boards of directors in line with the code stipulated by the CMA. PHOTO | FILE 

By JOHN GACHIRI

Pan African private equity firm Phatisa has appointed Yida Kemoli, the executive director of TransCentury subsidiary Civicon, its senior partner for East Africa.

The firm said he was an obvious choice since he was already familiar with Phatisa and has experience in the private equity industry.

Mr Kemoli was a member of the African Agriculture Fund (AAF), a fund managed by Phatisa.

“Although Yida has been part of the Phatisa family for a number of years, as a member of the AAF Investment Committee, we are delighted that he is joining us on a permanent basis. His reputation and deal-doing track record in East Africa precedes him,” said Phatisa senior manager Duncan Owen in a statement.

“This appointment again highlights Phatisa’s commitment to grow long-term equity value for all funds under management across Africa.”

Mr Kemoli has advised other private equity funds including Abraaj, formerly Aureos, which has in the past made investments in Brookside, UAP Insurance and Equity Bank.

He joins David Owino and Edwin Dande as senior executives who have exited listed firms for the private equity industry.

Mr Owino left Centum in March 2014 and founded Ascent Capital while Mr Dande left Britam and set up Cytonn in September the same year.

Phatisa has been active in the real-estate sector and is constructing apartments targeting young professionals in Nairobi County and satellite towns.

The private equity firm has also invested in General Plastics, the supplier of containers to major manufacturers, for an undisclosed amount.

The deal was announced in January. Despite being vague on detail the firm’s investment criteria is to make investments of between $5 million (Sh459 million) and $24 million (Sh2.2 billion) in exchange for a majority or a significant minority equity stake and board representation.