Sanlam Plans Private Markets Push as It Eyes South Africa’s Rich

Sanlam Ltd. plans to increase its focus on private market investments, as Africa’s biggest insurer seeks to expand into a fast-growing corner of global finance.

The company wants to boost asset allocation to instruments that may include private equity and private debt, to help diversify away from publicly listed companies and other traditional destinations for its clients money.

Paul Hanratty.

Photographer: Dwayne Senior/Bloomberg

“In South Africa, we’ve still got very limited private markets,” Sanlam’s Chief Executive Officer Paul Hanratty said in an interview. “We’re sitting in South Africa at about 6% of assets and I think 10% to 15% is probably where we should ...