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Private equity fund hires former Standard Bank Group execs for Johannesburg office

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September 26
5:48 AM 2013

Private equity fund One Thousand & One Voices announced the hiring of three former executives of Standard Bank Group Ltd to run its office in Johannesburg. The fund has already gathered over USD 100 million to invest in opportunities in fast-growing regions in the African continent. These include Kenya, Tanzania, Ghana and Nigeria. One Thousand & One Voices is targeting USD 300 million in funds.

The Denver-based private equity firm said it had hired Navaid Burney, Merafe Moloto and Michael Adiukwu. Burney was the former Chief Operating Officer of Pangea Exploration Ltd. He also headed Standard Bank's private equity unit in Africa. He would be leading the team at Johannesburg for One Thousand & One Voices.

Moloto and Adiukwu would serve as the fund's directors. Moloto served as the Managing Director of Motseng Investment Holdings while Adiukwu came from the leveraged and acquisition finance unit of Standard Bank.

Standard Bank had ceased its private equity business in Africa two years ago. However, the continent is attracting other private equity firms because of its fast economic growth.

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