Blue Ink Investments, a South Africa-based fund of hedge funds manager, has acquired full ownership of Legae Capital, following its purchase of Legae Securities’ 43 per cent and Fatima
Blue Ink Investments, a South Africa-based fund of hedge funds manager, has acquired full ownership of Legae Capital, following its purchase of Legae Securities’ 43 per cent and Fatima Vawda’s ten per cent shareholding in the company.
The purchase, for an undisclosed amount, will add to Blue Ink’s existing 47 per cent stake in Legae Capital.
Legae Capital is one of the main providers of fund of hedge fund products to institutional clients in South Africa, with a range of products across the risk spectrum. The company, which has more than ZAR1.5bn in hedge fund assets under management, is the result of a joint venture in 2004 between Blue Ink, Legae Securities and Fatima Vawda, enabling Blue Ink to widen its customer base to include institutional clients.
Following its purchase of the minority stakes in Legae Capital, Blue Ink will continue to manage these institutional assets under the Blue Ink banner.
‘Current clients will see no change in the investment management process that has been in place since inception,’ says Esmarie Strydom, chief executive of Blue Ink Investments (pictured). ‘The client relationship management and other operational functions will now be repositioned within Blue Ink Investments, although the underlying legal structures will not change.’
