Old Mutual replaces head of international PE

Old Mutual Alternative Investments, Africa’s largest private alternative investment manager, with 53 billion rand ($4 billion; €3.4 billion) in assets under management, has appointed Nabeel Laher as head of international private equity.

He replaces James Regout, who is retiring after 40 years with the firm.

Laher joined the firm in March 2015 charged with rolling out its Africa fund of funds business, as well as originating and managing dealflow in other funds.

He also spent nearly three years as a senior manager of Mergers & Acquisitions at Deloitte South Africa and also did stints at ABSA Capital and KPMG as a chartered accountant, according to his LinkedIn page.

“Since joining us, he has been instrumental in securing funding for the third international fund of funds and is currently raising capital internationally for the Africa fund of funds,” Paul Boynton, chief executive of Old Mutual Alternative Investments.

“He brings an interesting blend of advisory and practical business experience to this role, as well as great enthusiasm and professionalism, and will play an important role in helping us reach new heights.”

Old Mutual Alternative Investments manages more than 18 billion rand (US$1.4 billion) in private equity assets. The firm has two types of fund of funds, one invested solely in South Africa, the other internationally.

The firm’s 2014-vintage Old Mutual Africa Private Equity Fund of Funds has hit third close on $100 million. It is targeting $200 million, according to Private Equity International data, and will be invested across the Middle East and Africa.

The firm’s previous international fund was the 2012-vintage OMIGSA International Private Equity Fund of Funds II, which raised $253 million out of a target of $300 million. It made diversified investments across North America and Europe.