Following approval from their respective Boards, which are comprised of industry leading experts, AVCA and SAVCA will be collaborating to provide additional services to their members and leaders, in pursuit of attracting more global and local capital to Africa.
The partnership will include initiatives across a range of activities, including training, conferences, networking and information-sharing events, investor promotion events and research surveys.
Specifically, the associations will collaborate in the development and structuring of training programmes targeted at regulators, investors, pension fund trustees and current and prospective members in the private equity industry to encourage the implementation of industry best practice.
Additional plans include the creation of investor tours to support members' business development goals and research designed to better map the rapidly evolving industry and to provide independent data to aid fundraising.
Erika van der Merwe, chief executive officer at SAVCA said, "There is significant value in the combination of AVCA's regional and global reach, with SAVCA's established presence in South Africa and its role in the local regulatory landscape. We are delighted to be working even more closely with the AVCA team in our mutual goal of promoting our asset class in Africa."
Commenting on the formalised partnership, Michelle Kathryn Essomé, chief executive of AVCA said, "Thriving and active industry member organisations play an important role in the promotion and sustainable growth of the private equity asset class. Our teams at AVCA and SAVCA have always worked closely in the belief that mutual co-operation will contribute to the growth and well-being of our respective organisations and of the industry. This formalised partnership is an obvious next step in that journey."
Providing an investor member perspective, Runa Alam, AVCA chair and co-founder & CEO, Development Partners International said: "This collaboration with a natural, successful partner like SAVCA who has been serving the interest of the South African market for a long period, allows both associations to deliver much more for the industry. On behalf of my fellow members, I'm delighted by the decision for the associations to work more closely."
SAVCA's chairman, Emile du Toit, head of PAIDF1 at Harith General Partners added, "The collaboration with an effective pan-African partner is of notable strategic importance to a country-specific organisation such as SAVCA. The regional expertise and recognition which AVCA enjoys is of huge benefit to SAVCA's members - Harith included - who either are exploring the best options for cross-border investments or already are active in many parts of the continent."
For more information, go to www.savca.co.za.
