The Rohatyn Group, a global asset management firm focused on emerging markets and real assets, has bought Ethos Private Equity, an alternative asset management firm in Africa.

Since 1984, Ethos has made over 150 investments supporting South African and sub-Saharan businesses. The addition of Ethos works to expand TRG’s capabilities and presence in financial markets. It also aims to position TRG to offer a larger suite of investment services to LPs of both firms.

“This transaction is a strong vote of confidence in the Ethos team and signals our intention to leverage its platform to drive growth and investment in South Africa and across the continent,” says Nicholas Rohatyn, TRG’s chief executive officer and founder. “In addition, TRG will provide the Ethos business with exposure to a new group of investors and further align our combined efforts with LPs to strengthen the foundations of capital markets on the African continent.”

Lazard Ltd. advised TRG during the transaction.