Actis appoints new CIO

Alistair Mackintosh has joined the emerging markets specialist as a managing partner from the private equity arm of UK insurer Prudential.

Actis, the London-headquartered emerging markets investor, has announced the appointment of Alistair Mackintosh as its new chief investment officer.

Mackintosh joins Actis as a managing partner and CIO from PPM Ventures, the private equity arm of UK insurer Prudential, bringing Actis' total number of managing partners to 12.

As CIO, Mackintosh will oversee the development of Actis’ investment strategy on a global basis and chair the firm’s fund investment committees.

Mackintosh, who prior to joining PPM worked for 3i, takes over the role of CIO from Andrew Reicher, who remains with the firm and will now focus on managing Actis’ energy fund.

In January this year, Actis spun out of CDC Capital Partners, the UK state-owned risk capital investor, as a limited liability partnership. The firm manages over $2.5 billion (€2.1 billion) in assets in emerging markets and plans to raise up to $500 million of additional capital from third party institutions over the coming years. 

Last month Actis completed its first deal in Asia since the spin out, acquiring a 30 percent stake in Malaysian personal care business Unza Holdings through a $98 million management buyout from Berjaya, the Malaysian conglomerate.

In May, the firm was selected from a shortlist of 22 fund managers to co-manage the C$200 million (€122 million; $145 million) Canada Investment Fund for Africa (CIFA) along with Montreal-headquartered IFPT Management.

Yesterday PPM Ventures announced a personnel change of its own, with Neil MacDougall succeeding Jonathan Morgan as managing director of the firm.