Savca

SAVCA Private Equity Industry Survey 2025

The 2025 SAVCA PE Survey reveals an optimistic outlook, with firms expecting strategic growth and exits despite 2024 constraints.

Now in its 25th year, the 2025 SAVCA Private Equity Industry Survey continues to be a vital source of insight for SAVCA members and stakeholders. It highlights renewed optimism for Southern African Private Equity (PE), despite constrained fundraising in 2024, with firms and allocators anticipating increased activity, exits, and strategic growth in 2025 and beyond.

Key Highlights 

  • Fundraising Outlook: While fundraising declined by 70% in 2024 to R8.4bn, 33% of allocators expect a significant increase in 2025, signalling renewed confidence in the market  
  • Deal Activity: Investment activity surged by 69% in value and 56% in volume, with infrastructure, energy, and IT emerging as the top sectors  
  • Exit Environment:  Exit volumes reached a six-year high, though proceeds declined. Trade sales remained the most lucrative exit route, with a 2.1x return on investment  
  • Transformation & Diversity: 
    • 61% of PE firms have >50% black ownership (up from 59% in 2023). 
    • 21% have >50% black female ownership (up from 16%). 
    • 72% have >50% black management (up from 62%). 
    • Female representation at portfolio company executive level rose to 23% (from 11%)  
  • ESG Integration: ESG continues to gain traction, with 63% of firms reporting enhanced exit proceeds due to ESG strategies. However, data quality remains a key challenge  
  • Allocator Insights: For the first time, allocators were surveyed directly. Their top strategic priority is ESG, and they favour PE strategies focused on infrastructure and healthcare  
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    The Team

    Quintin Hobbs

    EY-Parthenon Africa Leader
    Born and bred in Africa. Committed to creating exceptional experiences for people, clients and society. Strategic advisor to businesses capital allocation in Africa. Passionate about early childhood education.
    Johannesburg, South Africa

    Graham Stokoe

    EY Private Capital Leader, EY Africa
    Passionate about developing trusted transaction advisors. Enabling capital flows to growing African businesses. Dedicated husband, father. Enjoys sport, the outdoors and spending time with loved ones.
    Johannesburg, South Africa

    Gergana Ivanova

    Strategy and Transaction Associate Director
    Trusted advisor to private equity and corporate clients throughout the transaction lifecycle. Female leadership ambassador. Keen hiker and student of yoga.
    Johannesburg, South Africa

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