36ONE Asset Management has announced a ‘landmark’ Broad-Based Black Economic Empowerment (B-BBEE) deal with a consortium led by MI Capital.<\/p>\n\n\n\n
36ONE Asset Management was founded in 2004 by Cy Jacobs and Steven Liptz, and has grown to over R60 billion in assets under management (AUM).<\/p>\n\n\n\n
MI Capital is the investment arm of The Maharishi Invincibility Institute (MII), a non-profit South African skills-to-work educational institution located in the Johannesburg CBD.<\/p>\n\n\n\n
The investment arm was established to manage and build a perpetual bursary fund that will give over
100,000 South African youth access to a world-leading education, jobs and entrepreneurial opportunities.<\/p>\n\n\n\n
MI Capital provides asset management, advisory and B-BBEE services to MII, partners and other investors.<\/p>\n\n\n\n
The deal sees the consortium, which includes staff of 36ONE, acquire a 22% stake in 36ONE Asset Management.<\/p>\n\n\n\n
“This partnership is a significant milestone that unites a top-tier financial firm with a proven leader in youth education and empowerment,” the group said.<\/p>\n\n\n\n
“It will help advance the educational mission of MII and help to uplift previously disadvantaged South African youth for generations to come.”<\/p>\n\n\n\n
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