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Eskom to enter the venture capital industry via $10 billion pension fund
#venture capital
The Eskom Pension and Provident Fund plans to expand into venture capital to reduce its dependence on traditional investments.
The Eskom Pension and Provident Fund, with about $10 billion worth of assets under management, is planning to invest $100 million in venture capital, according to Phathutshedzo Mabogo, the deputy chief investment officer of the fund. Mabogo stated that private equity and venture capital are areas of growth that could offer decent returns without introducing too much risk to the total portfolio. The Eskom fund plans to invest in offshore development markets in North America and Europe, as recent amendments to South Africa's pension legislation allow funds to invest up to 45% of assets offshore, with the Eskom fund's share being approximately 30%.
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