Belinda Anderson
In his spare time, charismatic fund manager Peter Major dons his hang-glider and jumps off mountains in Cape Town. Now he’s taking another leap away from the world of big institutional fund management, to team up with South Africa entrepreneur-turned information technology billionaire Mark Shuttleworth.
Major joins Shuttleworth’s newly formed company HBD (Here Be Dragons) Asset Management as adviser on Shuttleworth’s assets and also to the HBD team on the best venture capital investments.
Shuttleworth last year sold his internet security business Thawte Consulting to United States-based Verisign for $575-million (almost R4,5-billion), and he has said before that the proceeds from the sale remain invested in South Africa.
Major was with NIB (now Franklin Templeton NIB Investments) for 10 years, and has managed the mining and resources fund and the growth fund.
His successor for both funds will be Steven Arthur, who ran the UAL mining fund. Guy Woolford, formerly of Greenwich Asset Management, will manage the prime select fund, while NIB also acquired two other of Greenwich’s portfolio managers.
Major says that the team left at NIB is a highly capable one. Their roles will be decided and clarified at a bosberaad this week.
A new CEO will be appointed within the next six months, to replace Neil Cochrane, who is emi-grating. NIB director John Bestbier will stand in until a replacement has been found.
Major will be based in Durbanville. And contrary to the impression created in the media recently that he had deserted the country, Major believes Shuttleworth’s posting is only temporary.