Apis Partners Wins ‘Exit of the Year’ for Efficient Group

London, 28th November, 2024 – Apis Partners LLP (“Apis Partners”), a leading global private equity asset manager investing at the intersection of financial services and technology, has been awarded ‘Exit of the Year’ at the 2024 Private Equity Africa Awards for Apis Growth Fund I’s (the “Fund’s”) successful exit from Efficient Group (“EFG”). EFG, a South African financial services group which provides a range of solutions to the investment management industry, has a mission to enhance financial inclusion for South Africa’s growing middle class. The exit, announced in March 2023, was executed through a sale to Apex Group Ltd, a global financial services provider.

This award recognises remarkable growth at EFG during the Fund’s investment. Value-add from Apis Partners’ highly experienced team of sector specialists included enhancing EFG’s operational performance and expanding its product offering and client base; while the Apis Partners team’s market positioning of the company led to a successful exit, generating strong returns for investors.

Through its activities, Apis Partners has demonstrated that there need not be a trade-off between generating strong financial returns and achieving positive societal impact. During the Fund’s holding period, impact was created by increasing EFG’s network of registered financial advisors. This led to retail customers being connected with broader financial service offerings, including medical and health insurance, in turn potentially saving them out-of-pocket expenses. Furthermore, Apis Partners supported the growth of EFG’s asset administration services, enabling smaller asset managers to launch cost-effective independent investment schemes, democratising access to investment options for retail investors.

Matteo Stefanel, Co-Founder and Managing Partner at Apis Partners, commented: “We are honoured to receive this recognition from Private Equity Africa. The award highlights the exceptional value creation and strategic insight demonstrated by the Apis team throughout our investment period, which saw Efficient Group’s AUA rise from US$8 billion in August 2019 to US$15 billion in June 2023.”

Udayan Goyal, Co-Founder and Managing Partner at Apis Partners, added: “Apis and Efficient Group have a shared vision regarding financial inclusion, and we are proud to have guided the company on initiatives to promote financial education and inclusive investment opportunities. Our funds’ successful investments in high growth companies generating positive impact, such as Efficient Group, highlight one of our core investment themes, namely the global democratisation of finance.”

The PEA Awards, now in its 12th year, are highly regarded in the investment community for honouring excellence and innovation in African private equity.