Our journey is only beginning.

Thuso Incubation Partners (Proprietary) Limited (“Thuso”) is an independent, majority black-owned asset manager and incubator.

Key individuals of Thuso have demonstrated a track record of incubation and manager selection in South Africa for over 15 years. Our incubation experience and track record covers property, credit, private equity, infrastructure, hedge funds, and listed equity teams and fund managers.

Ke Nako Capital (which means, The Time is Now) has provided infrastructure and initial resource support to Thuso Incubation Partners. Ke Nako Capital began its Fund-of-Funds private equity programme in 2007, allied to this, partners have successfully owned and run incubation platforms in South Africa and abroad in 2005.

Since Thuso’s first Fund-of-Funds launched in 2019, we have continued to grow and create fruitful partnerships with funds and investors.

Our Team

Carlo Dickson

FOUNDER & CHIEF INVESTMENT OFFICER

Carlo has 15 years’ experience within the incubation/direct investments and multi-manager industry covering traditional and alternative investments asset classes.

Including having founded Thuso, Carlo is also a founder of a number of Private Markets incubation initiatives within the global asset management industry. He is a passionate builder of businesses.

BCOMPT (HONS), UNISA
C.T.A
CAIA

Karabo Nkoana

Senior Investment Director

Karabo has extensive experience within the private markets space both at large institutions and smaller advisory firms. Her experience spans the private markets arena from infrastructure and public goods, to venture capital and early-stage start-up spaces. Karabo was involved in the broader ecosystem development and has built a solid network as a key participant within the South African private markets space. She has been involved in the execution of fund investments (primaries and secondaries) as well as direct investments.

BSC. Eng
BCom (Hons)
MCom. Dev Fin

Claire Rentzke

Deputy Chief Investment Officer and Senior Co-Portfolio Manager

Claire has a wealth of investment experience that covers asset management, liability driven investments, incubation, transformation, and responsible investment across a range of long only and alternative investment options. She has worked as an independent asset consultant servicing institutional clients, including retirement funds, foundations and corporates. She was also CIO at a multi-manager with responsibility for overall management of all investment solutions: long-only, hedge, local and global

B.Bus.Sc (Hons)
CFA

Justin James

HEAD OF INVESTMENT RISK

Justin has extensive global experience in the development of risk management systems and the provision of counter party risk consulting services to the asset management industry.
He also has 10 years’ experience within portfolio management of traditional and alternative investment asset classes.

CA (SA)
BCOM (ACCOUNTING), UCT

Mmitji Letsoalo

PORTFOLIO RISK PROFESSIONAL

Mmitji has a strong grounding in the development, implementation and maintenance of asset management risk systems.

BCOM (HONS), UWC
BCOM, UWC

Ryan Wiborg

FINANCIAL DIRECTOR

Ryan is an expert within the provision of financial, audit and operational support to asset management businesses. He is also a specialist in BBBEE and financial sector charter regulations.

BCOMPT, PROFESSIONAL ACCOUNTANT, SA

Lindiwe Mngeni

RISK & COMPLIANCE TEAM MEMBER

Lindiwe supports the risk and compliance functions within the broader team.

DIPLOMA IN DATA CAPTURING
OFFICE ADMINISTRATION

Garth Solomon

INVESTMENT COMMITTEE MEMBER

Garth is joint CEO of Evolve Capital and prior he was head of Old Mutual Private Equity where this team invested in 23 transactions and exited 15, including landmark PE deals such as PEP and Life Healthcare. Garth currently chairs the investment committee of Life Healthcare, a listed company and has been a member of this board for over 9 years. He has also served on the boards and committees of Metro Cash & Carry, Air Liquid, Tourvest and Libstar. Prior to joining OMPE Garth was a founder member of African Harvest, a listed financial services company, and a member of their private equity and corporate finance teams.

BCOMPT (HONS)
CA (SA)

Rahab Matebane

INVESTMENT COMMITTEE MEMBER

Rahab is an experienced businesswoman and entrepreneur, with extensive exposure to the financial services industry having served on boards and or sub-committees of asset managers as well as investment and corporate banking institutions in South Africa. She has served as a director on the Sesfikile Capital board for the past 6 years.

CEO MAPITSI HOLDINGS

Duncan MacRobert

INVESTMENT COMMITTEE MEMBER

Duncan spent three years working in the financial services sector in London after completing his articles in South Africa. On his return, he has worked at Coronation, Standard Bank and Cadiz. He has also served as an executive director and chairman on various businesses in South Africa. One being Richmond Capital, providing corporate advisory and consulting services to companies for defined mergers & acquisitions, capital raisings, and monthly strategic, financial, governance and statutory requirements.

CA (SA)
BCOM (HONS), UNISA
BCOM, UCT

Michael Kirsten

INVESTMENT COMMITTEE MEMBER

Member of the investment committee, he has extensive experience in portfolio management, trading and formulation of investment strategy.

Previously he was Head of Private Clients at Investec responsible for specialised domestic and international mandates.

MASTER OF ARTS, OXFORD UNIVERSITY
BBUSSC, UCT

Fabian Whate

INVESTMENT COMMITTEE MEMBER

Fabian is the Head of Naspers Foundry, a business that invests in SA early-stage tech businesses. His previous work experience includes investment banking at JPMorgan and UBS. Fabian has an MBA (Cum Laude) from London Business School and a Bachelor of Business Science degree from UCT.

MBA, LONDON BUSINESS SCHOOL
BBUSSC, UCT
Thuso & BEE

Thuso & BEE

Thuso Partners is a proudly independent, majority black-owned Level 2 contributor. Thuso's ethos and philosophy is to partner with black investment professionals looking to build a brighter future for South Africa through private markets investing. Providing a platform that is supportive and one that enables the growth and advancement of the industry.