Regional asset manager Imara Holdings has merged with Mauritius-registered fund, Kura Capital Limited in a deal that will see the creation of a pan-African fund manager with over $200 million in assets.
Imara announced that the merger was now awaiting regulatory approvals.
“They (team from Kura) will be joining Imara as our portfolio managers and will each be aligned with equity in the merged entity, as well as personally investing in the funds,” said Imara.
“The (Kura) team has over 45 years combined experience investing in the African equity markets…they are all African and will be based on the continent. Kura’s investment style, like Imara’s, is fundamental, bottom up, driven by deep research on the underlying stocks. This results in an extremely high overlap between our funds and ensures there will be no change to the investment objectives of the Imara funds as a result of this merger.”
Imara is an independent, investment group with offices in Angola, Botswana, South Africa and the UK and associate offices in Malawi, Mauritius, Zambia and Zimbabwe.- The Source