PIC buys $40 million stake in South African tycoon Des de Beer’s Resilient with rahim66

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Key Points 

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• PIC raised its Resilient stake to 20.02%, investing $40.6 million to cement its position as the company’s largest shareholder.
• The move takes PIC’s total investment in Resilient to about $273 million, strengthening its influence in the retail and logistics-focused REIT.
• Resilient reported first-half 2025 revenue of $108.8 million, but profit dropped 34% to $38 million, highlighting mixed performance despite asset growth.

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Africa’s largest asset manager, the Public Investment Corporation (PIC), has deepened its investment in Resilient REIT, the retail and logistics-focused property group led by South African tycoon Des de Beer, after buying additional shares worth $40.6 million.

The move strengthens PIC’s position as Resilient’s biggest shareholder and highlights its renewed confidence in the Sandton-based company. It also signals continued institutional interest in South Africa’s property sector, particularly in established firms like Resilient.

PIC raises Resilient stake to 20 percent

A regulatory filing on Aug. 19 showed that PIC lifted its stake in the Johannesburg-listed REIT from 19.44 percent to 20.02 percent, spending R717.15 million ($40.6 million) to acquire an additional 0.579 percent holding. 

That takes the total value of PIC’s investment to nearly R4.83 billion ($273 million), giving it ownership of more than 73 million shares. Earlier in the year, asset manager Ninety-One also backed Resilient with a 5 percent stake worth R1.07 billion ($57.1 million), reflecting the company’s ability to attract major institutional investors.

Resilient posts higher sales, lower profit

Founded in 2002 by Barry Stuhler and Des de Beer, Resilient has grown into a top player in South Africa’s real estate sector. It manages 27 shopping centers across the country with 1.2 million square meters of lettable space, giving it a major presence in both retail and logistics.

Resilient’s financial performance in the first half of 2025 showed mixed results. Revenue rose 8.31 percent to R1.93 billion ($108.8 million), but profit dropped 34.35 percent to R673.39 million ($38 million). Despite the decline in earnings, the company’s assets grew 3.39 percent to R38.24 billion ($2.16 billion), underscoring the strength of its balance sheet.

PIC strengthens role in South Africa

For PIC, which manages more than R3 trillion ($173 billion) in assets on behalf of South Africa’s government workers, the investment in Resilient extends a long line of high-profile holdings. The asset manager also owns substantial stakes in companies such as Investec, Tiger Brands, and Clicks Group, underscoring its influence across the Johannesburg Stock Exchange.

from Daily News on African Billionaires and UHNWIs https://ift.tt/L9briU2

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