Retirement funds, asset managers and development finance institutions collectively responsible for more than R3 trillion in assets under management (AUM) will gather in Durban on 30 July for the inaugural KwaZulu-Natal Investment Forum, aimed at unlocking billions of rand in institutional capital for the province’s infrastructure pipeline.
To be held at the Radisson Hotel, Umhlanga, the Forum will bring together leading retirement funds and institutional investors, including KZN-based funds representing over R80 billion in member wealth, alongside prominent asset managers, project sponsors, and entrepreneurs to explore bankable investment opportunities across KwaZulu-Natal.
Dubbed the KwaZulu-Natal Investment Forum, the gathering marks the first time such a platform has convened on KZN soil. It is designed to connect project sponsors directly with retirement funds and other institutional investors, and to give policymakers a platform to unpack the province’s investment landscape and key economic drivers, including how retirement funds, which operate under a strict regulatory environment, can participate in shaping KZN’s economic future.
Thomas Mketelwa, Principal Executive Officer of the KZN Municipal Pension Fund, which stewards over R32 billion in member wealth, said: “To have a pension fund-led investment platform that caters specifically to the investment requirements of our members in the areas where they are located is long overdue. We believe KZN presents a compelling investment case to be explored by retirement funds, and this will benefit our members in the long term.”
Retirement funds are increasingly turning to unlisted and private markets amid constraints in the listed equity market. Pension funds have begun channeling capital into long-term infrastructure, roads, ports, energy and social infrastructure, either directly or through asset management firms.
The Forum positions retirement funds not merely as capital sources but as impact investors, whose investment strategies and policies are being aligned with the development and economic growth needs of the province.
Pension funds such as the Government Employees Pension Fund, through the Public Investment Corporation, Africa’s largest asset manager, with assets under management in excess of R3 trillion are already key investors in the province, with flagship projects including the Oceans Mall in Umhlanga among others.
The calibre of investment expertise in the room will be further bolstered by heavyweights such as Mazi Asset Management, with over R46 billion in AUM, and specialist impact and private equity firms like RH Fund Managers, who bring extensive experience in healthcare and infrastructure development. Together with the Transport Sector Retirement Fund, which manages between R8.2 billion and R11 billion, these entities represent a massive pool of capital ready to be deployed into viable provincial projects.
Entrepreneur Vivian Reddy, Chairman of Oceans Development, will present a case study on the Oceans Mall development, detailing the role pension fund capital played in bringing the project to life.
Key sectors under discussion at the Forum include bankable opportunities in ports, rail and pipeline infrastructure; social housing, giving pension fund members the opportunity to own property; access to affordable private healthcare; and renewable energy.
Pension funds are also increasingly focused on the ESG space, with investment into solar, wind and waste-to-energy projects gaining traction.
eThekwini Municipality, the KZN Growth Fund, the KZN Tourism & Film Authority and other local entities will take part in the Forum, helping to chart the path for active pension fund participation in the KZN economy.