Peregrine Financial Services, a provider of wealth and asset management solutions, has purchased 50 per cent of South Africa-based Green Oak Capital, a fixed income hedge fund management company.
Green Oak founders Willie Viljoen and Rean Smit set up the hedge fund management company within Rand Merchant Bank in 2007.
The Stellenbosch-based fixed income manager currently runs two strategies, Green Oak Fixed Income and the more aggressive Go Green Fixed Income strategy.
The Green Oak investment team has on average over 18 years’ investment management experience. Before setting up the hedge fund business, Viljoen and Smit managed an internal fixed income portfolio at RMB. Prior to that, Viljoen established the treasury operation at Coronation Capital while Smit was group treasurer at the Cadiz Group.
“We are very excited to be partnering with Peregrine. While the Green Oak team focuses on its passion of generating returns for our investors from the fixed income markets, being part of the Peregrine Group will allow us to leverage off Peregrine’s depth and experience in the local and global hedge fund industry. This means the highest level of quality in terms of operations and corporate governance, while providing access to the global investor base,” says Viljoen.
Leila Kuhlenthal, head of business development at Peregrine, adds: “Green Oak is one of South Africa’s most experienced fixed income hedge fund managers. We are delighted to be able to count the investment skills of this team as part of our business. I am confident that they will complement the existing high-calibre suite of hedge funds on the Peregrine platform.”