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And with private equity the hot investment topic these days, it's probably not that surprising.
Paladin, which was officially launched at a special function on Thursday night, is described as PSG's private equity investment holding company.
According to PSG's website, Paladin "has no sector-specific focus and invests in cash generating companies with strong, incentivised management that have a passion to yield superior returns for shareholders".
The executives driving Paladin include Pierre Malan, Johan Holtzhausen, Andre Geldenhuys and Barry Groenewald.
The new PSG appendage is a most interesting mix of businesses, which could make an interesting prospect for investors were it to be unbundled from the parent company. No doubt some of the individual investments will be readied for separate listings in years to come.
Paladin's main investments are:
- a 54% stake in Algoa Insurance Company, a company that specialises in sick leave management and underwriting as well as other insurance products;
- a 49% stake in Arch Equity Investment Holdings , a black owned and controlled investment company;
- 36% of Axon Exchange, which operates in a joint venture with SocGen that specialises in scrip lending and money market placings;
- 52% of CIC Holdings Limited, which owns a group of businesses that operate within the Fast Moving Consumer Goods Industry in Southern Africa;
- 46% of PE-based Iquad Group, which consists of a number of specialist businesses focusing on investment incentives, treasury risk management, business optimisation and verification and audit services;
- 60% of PSG Capital - Corporate Finance, which specialises in proprietary investments, corporate advice, structured products, empowerment structurings and mergers and acquisitions;
- 39% of Precrete-Nozala, which produces and distributes premixed concrete for construction, support and other related mining applications.
- 30% of PSG Capital Quantitative, a hedge fund that focuses on quantitative measures to invest client's funds; and
- 75% of PSG Properties, which in turn holds 40% of commercial property developer and manager Dynarc Property Investments.
