Private credit manager
Ninety One Limited
Ninety One is an independent, active global asset manager with a significant emerging market heritage. Established in South Africa in 1991, the firm provides specialised investment strategies across equities, fixed income, multi-asset, and alternative asset classes. Its investment philosophy is built on active management, seeking to deliver long-term returns while focusing on sustainability and the energy transition, particularly in emerging economies. The firm operates a robust private credit platform in Africa, managing significant mandates, including the Emerging Africa & Asia Infrastructure Fund (EAAIF). In March 2020, the company successfully demerged from the Investec Group and was independently listed on the London and Johannesburg Stock Exchanges.
Investment focus
- Sectors
- Financial servicesEnergy and powerTechnologyConsumerTelecoms and digital infrastructureManufacturing and industrialsHealthcare
- Stages and strategies
- GrowthBuyout
- Instruments
- EquityDebtMezzanine
- Regions
- Global
- African markets named in public materials
- South Africa, Botswana, Namibia
Funds managed
- Ninety One Africa Private Equity Fund II 2015 $295m
- Ninety One Africa Credit Opportunities Fund 1 2012 $226.5m
- Emerging Markets Transition Debt Fund
- Emerging Markets Transition Debt Fund
- Ninety One Africa Credit Opportunities Fund III
- Ninety One Africa Credit Opportunities Fund III
- Ninety One European Credit Opportunities Fund I
- Ninety One European Credit Opportunities Fund I
- Ninety One Global Environment Fund
- Ninety One SA Infrastructure Credit Fund 1
- The Emerging Africa & Asia Infrastructure Fund
Selected portfolio and direct investments
- Tsebo Solutions Group Proprietary Limited
- West Indian Ocean Cable Company Ltd
- Zara UK Midco
Recent investments and transactions
| Date | Transaction | Type | Value | Market |
|---|---|---|---|---|
| 15 Dec 2025 | IFC, Proparco, EAAIF, and Ninety One's debt investment into WIOCC Group's operations for USD 65 million | Private Credit | $65m | South Africa |
| 1 Dec 2025 | Africa Credit Opportunities Fund III's Investment in Tsebo Outsourcing Group's Operations in South Africa | Private Credit | Undisclosed | Lesotho |
| 1 Dec 2025 | Africa Credit Opportunities Fund III's Investment in Zara UK Midco's Operations in Kenya | Private Credit | Undisclosed |
Sources
- Partner Researchers, accessed 14 November 2026