South Africa-focused Ethos Private Equity has named Stuart MacKenzie as CEO, replacing founding partner André Roux, who will assume the role of deputy chairman and chairman of the firm’s investment committee.
Roux has held the post of CEO since Ethos’ inception in 1984. MacKenzie joined Ethos in 1998, became a partner in 2002, and has been a member of the firm’s executive committee since 2009.
“Ethos would never have achieved its current level of success without the visionary leadership of André Roux. This succession has been planned for some time and represents a natural evolution,” said Ethos chairman Peter Mageza.
“Private equity is a team sport,” added commented. “I will be working alongside Ethos’ exceptional team, all of whom have contributed deeply to our success. This leadership change marks a shift in Ethos’ history, but not our core principles or mission.”
Ethos makes long-term investments into medium-to-large businesses in South Africa and selectively in sub-Saharan Africa. Since 1992, Ethos has raised over ZAR16bn ($1.9bn) to date and most recently closed Ethos Fund VI on ZAR7bn ($805m).
The firm was recently said to be preparing to sell its stake in retirement fund administrator Alexander Forbes after a six-year holding period.
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