Prescient Fund Services gains fund admin mandate from Thuso
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Prescient Fund Services gains fund admin mandate from Thuso 18 November 2020South Africa Reporter: Becky Bellamy
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Thuso Incubation Partners has selected Prescient Fund Services as the fund administrator to its fund of private equity funds and associated incubation programme.
Backed by Ke Nako Capital, Thuso is a South African-domiciled mid-market private equity specialist, established in 2018 with the launch of the Hodisang Fund 1.
The second fund vehicle, launched in 2019 is Thuso Private Markets Fund 1, a fund of funds that incubates and invests across private equity and real assets.
According to Thuso, its strategic mission is to incubate South Africa’s next generation of black-owned asset managers, with the provision of capital and strategic guidance.
Thuso explained that its inclusion of broad-based black economic empowerment (B-BBEE) principles throughout their entire value chain, including investee companies and service providers, is designed to nurture the economic growth, empowerment and inclusivity.
Olwethu Cata, CEO at Thuso, said: “Prescient is a trusted partner who we have selected as our fund administrator and highly recommend to our incubated managers. The fact that they are B-BBEE level 2 speaks volumes for the credible black talent across the value chain within financial services. We look forward to walking a long and prosperous path with Prescient.”
Hayden Reinders, head of business development and client management at Prescient in Cape Town, added: “At Prescient we are proud of our B-BBEE credentials, coupled with employing and developing the best financial services talent, as we strive to be the leading fund services provider in our core market. We feel privileged to have been selected as a key partner to the Thuso team and look forward to building depth in our relationship with them over the years to come.”
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