File image: IOL

JOHANNESBURG - Africa’s largest mezzanine debt fund manager Vantage Capital said on Friday it had fully exited its investment in New GX Capital, a leading 100 percent black family owned investment holding company, achieving returns of more than 35 percent for investors.

Vantage provided R250 million to New GX in 2016 to finance follow-on investments in telecommunications infrastructure, waste management and information technology.

New GX Enviro built a first of its kind R200 million multi-purpose waste recycling plant in Atteridgeville township in Tshwane, providing employment to township residents and boosting the township economy.

"Our partnership bolstered local manufacturing capacity by constructing a R100 million fibre manufacturing plant 1km from Mamelodi township in Tshwane," said Mokgome Mogoba, an associate partner at Vantage Capital.

"We plan to support more talented black industrialists like Khudu Pitje, the founder and CEO of New GX, as we seek to transform the South African economy and uplift the township economy.”

To date, Vantage has successfully exited eight investments generating proceeds of R2.5 billion across its three generations of mezzanine debt funds and achieved an aggregate money multiple of 2.0x.

- African News Agency (ANA)