Chris Newson, the former Chief Executive of Standard Bank Africa, has joined Investec Asset Management as Director of Private Markets. He’ll work with the heads of the various private markets teams to help them continue to develop their lines of business further.
His appointment comes on the heels of Investec Asset management’s recent hire of Peter Baird as the Managing Principal of their Private equity business. The firm’s well-established Africa Private Markets platform also covers direct credit and infrastructure debt investment, which includes managing the $670 million Emerging Africa Infrastructure Fund, a public-private partnership anchored by several European governments. Investec beat more than 30 rivals to win the mandate to manage the fund in May 2016.
In a more-than-20-year career at Standard Bank, Newson held several sector leadership positions within the banks’ Corporate and Investment Banking and Africa divisions, including time as the Head of Corporate and Institutional Banking in South Africa, Corporate and Institutional Banking for Africa and Chief Executive of Stanbic IBTC in Nigeria.
Domenico Ferrini, Investec Asset Management’s Co-Chief Investment Officer, welcomed Newson’s appointment, noting that investment activity is on the threshold of expansion on the continent. “Confidence is returning to several markets against a backdrop of general economic stability and recovery,” he said. “Sophisticated investors are looking through the cycle to cheap currencies, low entry valuations, high yields and compelling growth drivers and we look forward to navigating these opportunities in partnership with our clients.”