Rohatyn to Buy Ethos to Create Firm With $8 Billion Assets
- Ethos to keep managing Brait’s assets including Virgin Active
- Ethos plans to raise specialized forestry, agricultural funds
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The Rohatyn Group said it will acquire South Africa’s Ethos Private Equity to help the US investment firm expand on the continent.
The purchase will help the New York-based company create a firm with close to $8 billion of assets under management, Stuart MacKenzie, chief executive officer at Ethos, said in an interview. Brait Plc, backed by South African tycoon Christo Wiese, in 2019 hired Ethos to manage its portfolio including UK apparel chain New Look and Virgin Active gyms. MacKenzie didn’t disclose financial details of the acquisition.