PAPE Fund 3
South African Rand
PAPE Fund 3 is a South African BBBEE Level 1 private equity fund in which nine investor institutions and groups have provided ZAR1.03bn in capital commitments. These investors include the Public Investment Corportation, Eskom Pension & Provident Fund, the SA SME Fund, FMO, 27four Investment Managers, Alexander Forbes Investments, the Transport Sector Retirement Fund, the Impala Workers Provident Fund and the Rosebank Wealth Group. PAPE Fund 3 achieved first closing in July 2018 and final closing in Janaury 2020. PAPE Fund 3 invests in SME businesses and back management teams with outstanding credentials and who are able to evidence strong historical performances that are sustainable. In terms of our model, PAPE Fund 3 will only invest in companies that evidence historically an ability to generate free cash and have a legacy of distributing capital. PAPE Fund 3 will not invest in companies where management does not have a meaningful stake in the business. If necessary, we will facilitate their participation. PAPEfunds preferred investment ticket size is bookended between ZAR40m and ZAR150m.