Kenya. Private Equity funds eye pension billions
Private equity (PE) and venture capital (VC) funds have set their sights on attracting up to Sh50 billion investments from pension schemes in five years, signalling an intensifying scramble for workers’ savings.
Investment guidelines under the Retirement Benefits Act 2016 allow pension fund managers and trustees to sink up 10 per cent of assets under their watch in PE and VC funds.
That followed four years of agitation by the PE funds for a change of rules to facilitate increased investments by pension schemes, creating a pool of domestic cash which will reduce their reliance on foreign funds.
Read More: Daily Nation
