JOHANNESBURG, March 31 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)