Ninety One to acquire Sanlam Investment Management.

Ninety One, an Anglo-South African asset management business, agreed to acquire Sanlam Investment Management, a South African asset manager. Financial terms were not disclosed. “We are looking forward to a long and fruitful relationship with Sanlam, a business with a powerful brand and significant scale in South Africa. Our experience and expertise are complementary. This agreement will give us the opportunity, as leaders in our respective markets, to create additional value for our stakeholders. We are making a substantial investment in the future of South Africa,” Hendrik du Toit, Ninety One Founder and CEO.