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

Westbrooke Alternative Asset Management, a multi-asset manager located in the UK, has successfully raised £75 million (around R1.6 billion) via a private equity fund in the UK, largely from high-net-worth individuals (HNWIs) in South Africa.

The focus of Westbrooke’s UK private equity strategy is on the lower mid-market sector in the UK.

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This fund is designed to invest in six to eight lower mid-market companies in the UK over a period of 24 months, targeting net investor returns of 20% or higher per annum and achieving a 2.5 times return on invested capital.

The initial closing took place in March 2026, with the first investment occurring in April.

This closing reflects robust interest from South African private investors looking for direct access to UK private equity opportunities.

Rob Grieve, head of Westbrooke UK Private Equity, commented that the £75 million first closing was predominantly backed by South African HNWIs and their wealth managers, who are making use of offshore allowance capital in a structure that ensures portfolio diversification, sterling-denominated returns, and direct investment into growing UK businesses.

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Dino Zuccollo, head of Investor Solutions at Westbrooke, explained: “South African investors are increasingly seeking to externalize capital but frequently face barriers in accessing established, specialized managers.

“This fund structure mitigates those barriers by providing access to Westbrooke’s unique 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 is one of the most sophisticated globally, with £400 billion raised by UK-managed funds since 2015.

Nevertheless, the lower mid-market, consisting of approximately 196,000 businesses with EBITDA below £10 million, remains markedly underserved.

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