Click here to learn more about Novare.<\/a><\/strong><\/li>\n<\/ul>\n\n\n\nReflecting on 25 years, Novare\u2019s journey is characterised by steady ambition and quiet pioneering \u2013 consistently reshaping the landscape of alternative investing while building platforms that drive sustainable growth across the continent.<\/p>\n\n\n\n
By 2003, Novare was already breaking new ground. It launched its first domestic and offshore multi-manager platforms alongside the Mayibentsha Moderate Qualified Fund of Hedge Funds.<\/p>\n\n\n\n
At the time, hedge funds were seen as exotic, opaque, and inaccessible to pension fund trustees and other investors. <\/p>\n\n\n\n
Mayibentsha, meaning \u201clet it be new\u201d in Xhosa, offered something different: a diversified, transparent vehicle designed to give retirement funds exposure to alternative investment without undue risk.<\/p>\n\n\n\n
The innovation quickly proved its merit. Mayibentsha became one of South Africa\u2019s longest-running fund of hedge fund vehicles, recognised for its steady returns and downside protection.<\/p>\n\n\n\n
\u201cWhen we launched Mayibentsha, we wanted to prove hedge funds could be responsibly managed and investor-friendly,\u201d co-founder Derrick Roper reflects. <\/p>\n\n\n\n
\u201cTwo decades on, the fact that it has only had one negative year speaks to the discipline we built into the process.\u201d<\/p>\n\n\n\n
Novare went on to strengthen its leadership in the industry. Its annual Hedge Fund Survey, launched in 2005, has become the benchmark for data on assets, flows, and manager practices \u2013 a reference point for investors, regulators, and fund managers alike.<\/p>\n\n\n\n
By 2024, the survey showed that the industry had captured a record R152.7 billion in hedge fund assets, a 43% increase from the previous year. <\/p>\n\n\n\n
Notably, a significant portion of net inflows originated from retail investors, reflecting the sector\u2019s growing accessibility and maturity.<\/p>\n\n\n\n
\u201cWe\u2019ve always believed alternatives should not be the preserve of the few,\u201d says CEO Ola Leepile. <\/p>\n\n\n\n
\u201cThe growth in retail participation confirms that hedge funds are now part of mainstream investment planning.\u201d<\/p>\n\n\n\n
Transformation and expansion<\/h2>\n\n\n\n
In 2005\u201306, Novare concluded its first Black Economic Empowerment (BEE) transaction by selling a 50% stake to Mvelaphanda. That milestone set the tone for a deeper transformation journey. <\/p>\n\n\n\n
By 2019, following a management buyout led by Leepile, Novare became majority Black-owned, reinforcing its position as a truly transformed financial services group.<\/p>\n\n\n\n
\u201cTransformation has never been a compliance exercise for us,\u201d says Leepile. <\/p>\n\n\n\n
\u201cWe\u2019ve always seen it as a business imperative to make sure that our growth story reflects the country we serve.\u201d<\/p>\n\n\n\n
Novare\u2019s expansion into private equity began in 2008. The creation of Novare Equity Partners broadened the firm\u2019s focus beyond South Africa. <\/p>\n\n\n\n
In 2010, it raised the Novare Africa Property Fund I, which built the Novare Apo Mall in Abuja. <\/p>\n\n\n\n
A second fund followed in 2016, and Novare Equity Partners has since built three commercial properties in Abuja, one in Lagos, four in Lusaka, and one in Maputo.<\/p>\n\n\n\n
Today, the group manages nine A-grade retail and office developments across three African countries, and further market entries are on the horizon.<\/p>\n\n\n\n
Novare has also pushed the boundaries within South Africa. In 2014, it was among the first to secure a Collective Investment Scheme licence for hedge funds, helping bring the sector into the regulated mainstream. <\/p>\n\n\n\n
It later opened hedge fund access to retail investors, democratising what had long been an exclusive asset class.<\/p>\n\n\n\n
Recognition and leadership<\/h2>\n\n\n\n
Novare\u2019s performance and innovation have earned it consistent recognition from across the investment industry, reflecting both the quality of its strategies and the impact of its transformation journey.<\/p>\n\n\n\n
In 2018, Novare Investments received the \u201cBest Fund of Hedge Funds\u201d in the Multi-Strategy category for the Novare Mayibentsha Market Neutral Qualified Fund of Hedge Funds at the HedgeNews Africa Awards \u2014 a testament to its consistency and innovative risk management.<\/p>\n\n\n\n
The following year, in 2019, Novare Equity Partners earned the \u201cProperty Development of the Year (Commercial\/Retail)\u201d award at the Africa Real Estate Conference and Awards (AFRECA\u201919), recognising its impact and excellence in African real estate development. <\/p>\n\n\n\n
In 2021, Novare Investments was awarded \u201cBest Fund of Hedge Funds\u201d in the Multi-Strategy category for the Novare Mayibentsha Moderate Qualified Fund of Hedge Funds at the HedgeNews Africa Awards, highlighting the fund\u2019s long-term consistency and risk management excellence.<\/p>\n\n\n\n
Most recently, in 2024, the group was named Best Multi-Manager or Asset Consultant of the Year at the Association of Black Securities and Investment Professionals (ABSIP) Awards \u2014 a recognition of its holistic contribution to investment excellence, transformation, and client service.<\/p>\n\n\n\n
\u201cWinning the ABSIP award is more than a trophy; it\u2019s a validation from our peers that our approach to asset consulting and multi-management, transformation and client service stands out in a competitive industry,\u201d Leepile says. <\/p>\n\n\n\n
\u201cIt reminds us we must continue to raise the bar in both investment excellence and social impact.\u201d<\/p>\n\n\n\n
These accolades are among many that highlight Novare\u2019s enduring commitment to excellence, innovation, and sustainable impact across the African investment landscape.<\/p>\n\n\n\n
Impact and sustainability<\/h2>\n\n\n\n
Impact and total value creation have always been at the core of Novare\u2019s investments. <\/p>\n\n\n\n
In 2023, the International Finance Corporation (IFC) named Novare an EDGE Champion for its commitment to green buildings across Nigeria, Zambia, and Mozambique. <\/p>\n\n\n\n
By 2024, it became the first African firm to partner with the IFC\u2019s Greening Real Estate Investment Portfolio (GRIP) programme, which helps property investors cut carbon emissions, improve efficiency and attract climate-aligned finance.<\/p>\n\n\n\n
\u201cEDGE recognition showed we could build green; GRIP proves we can green entire portfolios,\u201d says Roper. <\/p>\n\n\n\n
\u201cIt\u2019s about making African real estate both sustainable and investable.\u201d<\/p>\n\n\n\n
As we look ahead<\/h2>\n\n\n\n
After a quarter of a century, Novare has earned credibility through innovation, pushing boundaries, and a willingness to adapt. <\/p>\n\n\n\n
It has professionalised hedge funds, built real estate that anchors communities, created impact through investments, and is now positioning itself at the forefront of Africa\u2019s transition to a low-carbon, resource-resilient economy.<\/p>\n\n\n\n
The advantage Novare has is a belief in entrepreneurship and institutional memory. Its growth has never been overnight, but deliberate, phased and durable.<\/p>\n\n\n\n
\u201cWe believe in total value creation in that you can do well while also doing good,\u201d Leepile says. <\/p>\n\n\n\n
\u201cFinancial returns matter and are non-negotiable, but Novare also strives to be measured by its impact: on people, on the environment, on the continent, and on the broader society.\u201d<\/p>\n\n\n\n
Click here to learn more about Novare.<\/a><\/strong><\/p>\n\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"
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