South Africa: Old Mutual Private Equity exits 10X Investments
10X provides passive, technology-enabled investment solutions in South Africa.
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Old Mutual has agreed to acquire a majority stake in 10X Investments from Old Mutual Private Equity (OMPE) and DiGAME Investments.
10X provides passive, technology-enabled investment solutions in South Africa. The deal, valued at R2.2 billion (about $127.4 million), will see 10X’s management retain a significant stake in the business. The transaction is subject to customary conditions and regulatory approvals, with completion expected in the second quarter of 2026.
10X has focused on capturing the ongoing global generational wealth transfer by offering low-cost, long-term savings and investment solutions tailored to diverse client needs. The business has grown substantially since its acquisition by OMPE and DiGAME, when it managed R3 billion (about $173.9 million) in assets. It now oversees more than R68 billion (about $4 billion) in assets under management, serves over 60,000 clients, and holds a market-leading position in net flows into passive products, ETFs and smart beta solutions.
Jurie Strydom, chief executive of Old Mutual said, “For Old Mutual, this strategic acquisition supports the competitive delivery of investment capability into the SA market, positioning the group as a major force in the rules-based passive investment market. We 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. This also represents an acceleration of our retail direct strategy, with 10X strongly positioned in the self-directed retail market, with future-fit technology and a track record of excellent asset growth. We expect to leverage this leadership position by expanding their distribution reach and providing the capital strength to support sustained growth and returns to shareholders.”
10X will continue under the leadership of the current management team and retain its independent structure and brand. The business will work in close partnership with Old Mutual Wealth.
Farhad Sader, MD of Old Mutual Wealth, commented: “The management teams of 10X and Old Mutual Wealth have identified multiple areas of opportunity which create immediate value, and we’re delighted to be expanding our existing partnership as 10X enters this next phase of accelerated growth.”
“Our thesis was to move the needle on retirement outcomes by lowering fees, simplifying choices and using technology at scale,” said Jacci Myburgh, co-head at Old Mutual Private Equity. “Our investment in 10X delivered against that strategic vision. The team cultivated brand trust, broadened the product set and created an operating platform that can serve many more South Africans who need better long-term savings outcomes.”
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