Phatisa hires Eugene Stals as CIO

The manager is currently raising its Food Fund 2, which held a first close on $125m and is targeting a final close on $300m by the middle of next year.

Africa-focused private equity manager Phatisa has appointed Eugene Stals as chief investment officer to help grow the company.

Stals will lead Phatisa’s food-focused regional deal teams, fund investment strategies and assist in identifying value-creation opportunities. He has almost 30 years of investment experience in private equity and played a pioneering role establishing the industry in South Africa, as senior partner of Ethos. He also established his own consulting business in Australia, providing strategic advice to business, and was previously head of Bravura Capital’s Australian operations.

Phatisa is currently raising its second Food Fund, which held a $125 million first close in October 2018 and is targeting a $300 million final close by mid-2019. PFF 2 will continue to focus on the African food value chain, looking at investments in mechanization, inputs, poultry, meat production, food processing and distribution.

The firm currently manages two sector-specific funds, totaling more than $285 million: the African Agriculture Fund, focused on food, and the Pan African Housing Fund, dedicated to affordable housing in Eastern Africa.

“I believe Phatisa’s track record and approach is unique on the continent and it’s something I want to be a part of and help grow,” said Stals.