Although deals by large listed companies grab the headlines, BEE is having an impact at all levels of South African economic life. Despite its short investment horizon, some bankers see a natural fit between private equity and BEE.
“The private-equity model of highly leveraged deals is ideal for BEE, especially if the financing is largely cashflow-based,” says Shaun Rosenthal, head of specialized funds management at Wipcapital. “Some of our deals in the non-listed area are very much based on LBO principles.
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