{"id":841167,"date":"2025-10-28T10:30:00","date_gmt":"2025-10-28T08:30:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=841167"},"modified":"2026-01-15T16:45:09","modified_gmt":"2026-01-15T14:45:09","slug":"old-mutual-buys-major-south-african-investment-company-for-r2-2-billion","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/841167\/old-mutual-buys-major-south-african-investment-company-for-r2-2-billion\/","title":{"rendered":"Old Mutual buys major South African investment company for R2.2 billion"},"content":{"rendered":"\n

Old Mutual has acquired a majority stake in 10X Investments from its own private equity business in a deal worth R2.2 billion. <\/p>\n\n\n\n

Old Mutual bought the majority stake from Old Mutual Private Equity (OMPE), part of Old Mutual Alternative Investments, and DiGAME Investments (DiGAME). <\/p>\n\n\n\n

While technically owned by one of OMPE’s funds, the private equity business still maintained oversight of 10X and closely monitored its operations.<\/p>\n\n\n\n

The Old Mutual Group said that the deal marks an important step in the company\u2019s evolution as a leader in passive, technology-enabled investment products.  <\/p>\n\n\n\n

The deal is valued at R2.2 billion, and 10X management will retain a significant stake in the business. <\/p>\n\n\n\n

The transaction is still subject to customary conditions and regulatory approvals, with completion expected in Q2 2026. <\/p>\n\n\n\n

OMPE and DiGame saw the opportunity to partner with 10X in 2014, a pioneer in the low-cost retirement savings market in South Africa.<\/p>\n\n\n\n

\u201cOur thesis was to move the needle on retirement outcomes by lowering fees, simplifying choices and using technology at scale,\u201d said Jacci Myburgh, Co-Head at Old Mutual Private Equity. <\/p>\n\n\n\n

The business has scaled massively since it was acquired by OMPE and DiGame, with 10X\u2019s assets under management rising to R68 billion.\u00a0<\/p>\n\n\n\n

Today, 10X is servicing over 60,000 clients, with a market-leading position in net flows into passive products, ETFs and smart beta solutions. <\/p>\n\n\n\n

The 10X brand pushed into the direct-to-consumer market by acquiring CoreShares in December 2022. <\/p>\n\n\n\n

What next <\/h2>\n\n\n
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\u201cFor Old Mutual, this strategic acquisition supports the competitive delivery of investment capability into the South Africa market, positioning the Group as a major force in the rules-based passive investment market,\u201d said CEO Jurie Strydom. <\/p>\n\n\n\n

\u201cWe share their long-term vision and see this partnership as a way to expand access to quality investment solutions for a wider base of investors.\u201d <\/p>\n\n\n\n

Stydom added that the deal represents an acceleration of Old Mutual\u2019s retail direct strategy, with 10X strongly positioned in the self-directed retail market. <\/p>\n\n\n\n

\u201cWe expect to leverage this leadership position by expanding their distribution reach and providing the capital strength to support sustained growth and returns to shareholders.\u201d  <\/p>\n\n\n\n

10X will continue to operate under the strong leadership of its current management teams and retain its independent structure and brand. <\/p>\n\n\n\n

The business will work in close partnership with Old Mutual Wealth, where management teams have already identified multiple avenues to create immediate value. <\/p>\n\n\n\n

The management team will also retain a meaningful ownership stake in the business, ensuring continuity of leadership and strategy.<\/p>\n\n\n\n

\u201cThe outgoing shareholders provided the capital and strategic support to grow with purpose,\u201d said Tobie van Heerden, Chief Executive of 10X Investments. <\/p>\n\n\n\n

\u201cAs we enter the next phase, we remain committed to accessible, low-cost investing that is simple to understand and use.\u201d <\/p>\n\n\n\n

\u201c10X will always focus on delivering exceptional value to clients, preserving our independence, and building a stronger, more resilient firm for the future.\u201d <\/p>\n","protected":false},"excerpt":{"rendered":"

Old Mutual is paying R2.2 billion to acquire 10X Investments, which was previously owned by Old Mutual Private Equity and DiGAME Investments. <\/p>\n","protected":false},"author":95,"featured_media":812745,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[1110],"class_list":["post-841167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-old-mutual"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/841167","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=841167"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/841167\/revisions"}],"predecessor-version":[{"id":847998,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/841167\/revisions\/847998"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/812745"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=841167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=841167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=841167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}