January 17, 2017 10:55 AM ET

Capital Markets

Company Overview of Public Investment Corporation Limited

Company Overview

Public Investment Corporation Limited is a government owned investment manager. It provides its services to public bodies that operate pension, provident, social security and guardian funds. The firm launches and manages funds. It invests in the public equity and fixed income markets across South Africa. It also invests in property assets, private equity, early stage venture capital, mezzanine, small, medium and large-sized unlisted companies, and private sector and public sector organizations and developmental investments. Within direct investments, it invests in economic infrastructure including energy infrastructure, logistics network, water infrastructure, ICT and broadband infrastructur...

Block C , Riverwalk Office Park

41 Matroosberg Road

Ashlea Gardens Extension 6

Menlo Park


South Africa

Founded in 1911


27 12 742 3400


27 12 346 3276

Key Executives for Public Investment Corporation Limited

Chief Executive Officer, Executive Director, Member of Investment Committee, Member of Property Committee, and Member of Social and Ethics Committee
Age: 54
Chief Financial Officer and Executive Director
Acting General Manager
Fund Principal
Compensation as of Fiscal Year 2016.

Public Investment Corporation Limited Key Developments

PIC Reportedly Eyeing Barclays Africa

Public Investment Corporation Limited (PIC) may acquire stake in Barclays Africa Group Limited (JSE:BGA). Two sources close to the matter said that PICL has sought approval from South Africa's central bank to raise its stake in Barclays Africa. Barclays Africa's parent, Barclays Bank PLC (LSE:BARC) wants to reduce its holding to below 20%, which would make it an equity investment rather than a subsidiary. The plan is part of a broader sale by the company of its African assets as it shifts to focus on the United States and Britain. PIC could buy at least an additional 31% stake, the sources indicated. The source stated, “PIC has always looked at Barclays Plc's retreat as an opportunity to create a black-owned bank, but there aren't many people with deep pockets to make that happen.” The news report stated that the South African Reserve Bank's spokesman Jabulani Sikhakhane declined to comment. Sources with knowledge of the matter told Reuters in September 2016 that former Barclays Plc, Chief Bob Diamond was still looking to acquire the remaining 50%.

Vodacom Stake Back Up for Sale to Black Buyers in South Africa

South Africa's Public Investment Corporation Limited is resuming the sale of a stake in Vodacom Group Limited (JSE:VOD), following the cancellation of a previous deal signed in May that aimed at increasing black ownership in Vodacom Group. Public Investment Corporation is in talks with a number of black investors, as per Chief Executive Officer of Public Investment Corporation, Dan Matjila, who declined to discuss the details. One of the groups includes Vodacom Chairman Peter Moyo, one of the people familiar with the talks said.

Atlas Merchant Reportedly In Talks To Buy Stake In Barclays

Atlas Merchant Capital LLC is still interested in acquiring a part or the entire stake held by Barclays Africa Group Limited (JSE:BGA). According to reports The Abraaj Group lost interest in bidding for a minority stake in Barclays. while a consortium of black shareholders planned by South Africa's Public Investment Corporation Limited is facing difficulties to raising funds. Barclays has expressed confidence that it could sell down its shares in the African unit through the open market.

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