March 31, 2017 / 2:08 PM / 5 months ago

South Africa's Joffe to list investment firm on April 7

JOHANNESBURG, March 31 (Reuters) - Brian Joffe, the founder of South Africa's Bidvest, will list a 2 billion rand ($150 million) investment firm, Long4Life, on the Johannesburg Securities Exchange next week, the firm said in a pre-listing statement on Friday.

Joffe will provide 100 million rand of the capital himself and unidentified investors will subscribe for the rest before listing the firm on April 7. The firm will not raise any more capital on its listing date.

Long4Life aims to be more nimble than traditional private equity funds and plans to attract public market investors with a diversified portfolio of listed and unlisted assets.

"Long4Life will pursue investments predominantly with a lifestyle focus. These could include businesses in the beauty, outdoor, sport, retirement villages, and restaurants, among other sectors," the firm said.

The firm said it would not target industries such as banking, mining and resources companies.

Long4Life will have the share code L4L on the JSE.

$1 = 13.3270 rand Reporting by TJ Strydom; Editing by Mark Potter

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