Sango Capital, a South Africa-based investment management firm, co-founded by investor Richard Okello, has been appointed manager of about $460 million in committed capital across three African fund portfolios following a management transition led by a consortium of institutional limited partners.

The change was initiated by investors in the existing funds, who selected Sango to oversee portfolio management, governance and value creation activities in line with each fund’s investment mandate.

The portfolios span multiple investment vintages and hold interests across key sectors including financial services, consumer goods, healthcare, infrastructure, energy, agribusiness, mining, industrial materials and technology. The assets are spread across more than 20 African markets.

Expanding African private equity presence

Sango’s appointment comes after the firm completed a multi-fund continuation vehicle for its inaugural fund, Sango Capital Partners, and closed a $120 million secondary transaction involving four African funds, both announced in early 2026.

The latest mandate reflects a growing shift in African private equity, where institutional investors are increasingly turning to specialist managers to provide liquidity solutions, extend asset ownership periods and improve oversight of mature investments.

“We are honoured to have been entrusted by this group of institutional limited partners with the stewardship of significant capital in established African private market vehicles,” Okello said.

“Our objective is clear: support continued value creation across the portfolio, deliver returns consistent with each fund’s mandate, and continue to attract new capital to these markets.”

Charles Mwebeiha, co-founder and partner at Sango Capital, said the firm’s recent transactions reflect the changing structure of Africa’s private equity market.

“Secondaries, continuation vehicles and institutional portfolio management mandates are emerging as important foundations that will support African private equity through its next phase,” Mwebeiha said.

Building an African investment platform

Founded in 2011 by Okello and Mwebeiha, Sango Capital began as a private equity investor focused on primary investments before expanding into secondary private equity, venture capital and private credit.

The firm has invested across more than 50 companies, private equity funds and co-investment opportunities in Africa. It has completed more than 79 exits and deployed more than $1 billion across businesses on the continent.

With offices in Johannesburg, Lagos and Mauritius, Sango provides investment solutions across primary funds, secondary transactions and continuation vehicles, targeting long-term returns from African private markets.

In 2024, the firm expanded its secondary investment strategy through a deal that saw it acquire a majority of limited partner stakes in Synergy Private Equity Fund I & II. Synergy Managers (Mauritius) Limited remained the general partner, while Sango became the majority limited partner, helping simplify the investor structure and improve liquidity planning.

The latest appointment strengthens Sango’s role as institutional investors seek experienced managers capable of navigating Africa’s diverse private markets while creating value from existing assets.