Afrika Borwa.

South African private equity performance when compared to the listed market counterpart remains ahead by a nose, according to the latest Q2 2017 RisCura-SAVCA South African Private Equity Performance Report.

The quarterly dispatch, which tracks the performance (of a so-called representative sample) of South Africa’s private equity funds, suggests the sector has outperformed the FTSE/JSE All Share Total Return Index (ALSI TRI) and the FTSE/JSE Shareholder Weighted Total Return Index (SWIX TRI).

A closer look might suggest otherwise: Rand invested in the sector would have returned just under 14% compounded over the last 10 years (this is net after fees, and also assumes you invested only in RisCura's 'representative sample' of course). Simiarly, the last give years show an IRR of 13.7%.

This compares to ALSI TRI in the following way: 12.0% over 10 years and 15.3% over the last five. USD IRR is worse of course: 9% and 5.6% respectively for private equtiy - Jacob.

But against the backdrop of a volatile economy, a decline in investor confidence, political uncertainly and drought: private equity has not been for the faint hearted.