Capitalworks Investment Partners plans to invest R5-billion of newly raised cash in mid-sized South African companies hit by a shrinking local economy and the coronavirus pandemic. The firm raised 25% more than planned for its Private Equity Fund III from Morgan Stanley’s Alternative Investments Partners unit, institutional investors and wealthy families, Capitalworks founder Chad Smart said. The Johannesburg-based company is seeking businesses with enterprise values from R250-million to R4-billion in industries such as financial services, food, and health.
