South African High-Net-Worth Investors Support Westbrooke’s R1.6 Billion UK Private Equity Fund

Westbrooke Alternative Asset Management, a multi-asset manager based in the UK, has successfully secured £75 million (approximately R1.6 billion) through a private equity fund in the UK, predominantly from high-net-worth individuals (HNWIs) in South Africa.

The strategy for Westbrooke’s UK private equity initiative centers on the lower mid-market in the UK.

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This fund is structured to invest in six to eight lower mid-market businesses in the UK over a span of 24 months, aiming for net investor returns of 20% or more per annum and a 2.5 times multiple on invested capital.

The first closing occurred in March 2026, with the inaugural investment taking place in April.

This closing indicates a robust interest from South African private investors seeking direct access to UK private equity opportunities.

Rob Grieve, head of Westbrooke UK Private Equity, noted that the £75 million first closing was primarily supported by South African HNWIs and their wealth managers, who are utilizing offshore allowance capital in a structure that provides portfolio diversification, sterling-based returns, and direct exposure to expanding UK businesses.

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Dino Zuccollo, head of Investor Solutions at Westbrooke, elaborated: “South African investors are increasingly looking to externalize capital but often encounter challenges in accessing established, specialized managers.

“This fund structure addresses those challenges by offering access to Westbrooke’s exclusive deal flow, diversification, and co-investment opportunities.

“The feedback from South African investors has confirmed the investment thesis.”

According to the fund manager, the UK private equity market ranks among the most developed globally, with £400 billion raised by UK-managed funds since 2015.

However, the lower mid-market, comprising approximately 196,000 businesses with EBITDA below £10 million, remains significantly underserved.

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