Old Mutual Wealth has acquired the green light to acquire 10X Investments from the Competition Commission. <\/p>\n\n\n\n
The commission recommended that the Competition Tribunal approve the proposed transaction without conditions. <\/p>\n\n\n\n
Old Mutual Wealth bought the majority stake for R2.2 billion from Old Mutual Private Equity (OMPE), part of Old Mutual Alternative Investments, and DiGAME Investments (DiGAME). <\/p>\n\n\n\n
10X management will retain a significant stake in the business, with the transaction expected to close in Q2 2026. <\/p>\n\n\n\n
OMPE and DiGame initially took a stake in 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, when the deal was announced. <\/p>\n\n\n\n
The business scaled massively in the ten years after it was acquired by OMPE and DiGame, with assets under management rising to R68 billion. <\/p>\n\n\n\n
The company now services over 60,000 clients, maintaining a market-leading position in net flows into passive products, ETFs, and innovative beta solutions. <\/p>\n\n\n\n
10X also pushed into the direct-to-consumer market by acquiring CoreShares in December 2022. <\/p>\n\n\n\n
\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 at the acquisition. <\/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
10X will continue to operate under its current management teams and retain its independent structure and brand in the future. <\/p>\n\n\n\n
10X will work in close partnership with Old Mutual Wealth, with management teams having already identified multiple ways to create immediate value.
<\/p>\n","protected":false},"excerpt":{"rendered":"
Old Mutual Wealth has received to the go-ahead to acquire 10X Investments from its sister company, Old Mutual Private Equity. <\/p>\n","protected":false},"author":95,"featured_media":834216,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[12346,1110,13099],"class_list":["post-847997","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-10x","tag-old-mutual","tag-old-mutual-private-equity"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/847997","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=847997"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/847997\/revisions"}],"predecessor-version":[{"id":849312,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/847997\/revisions\/849312"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/834216"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=847997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=847997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=847997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}