Vunani Limited has acquired a 70% stake in Fairheads International Holdings for US$19 million.
Vunani Limited is a black-owned and managed financial services company that operates through two divisions: financial services and investment services. Financial services is composed of the fund management, investment banking and property business units. Investment services houses Vunani's strategic empowerment equity investments.
Fairheads, through its wholly owned subsidiary Fairheads Benefit Services Proprietary Limited, is a provider of administration services to beneficiary funds and umbrella trusts for retirement funds and a registered pension funds administrator. Beneficiary funds are typically funds established in order to retain and manage money due as a death benefit under a retirement fund product. Administration services involve managing these monetary funds on behalf of the dependants of deceased retirement fund members.
Oaklins' team in South Africa advised the buyer in this transaction.
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