Executive Chairman
MBA (INSEAD)
Luc is the co-founder and Executive Chairman of Vantage’s mezzanine funds, with responsibilities spanning mezzanine investments’ assessment, structuring, execution and post-transaction monitoring. Luc is one of two executive members of the Mezzanine Funds’ Investment Committees, and has played a leading role in all the investments executed by the four mezzanine funds since 2007. Luc has 26 years of experience in private equity, mezzanine finance.
Luc is the co-founder and co-managing Partner of Vantage’s mezzanine funds, with responsibilities spanning mezzanine investments’ assessment, structuring, execution and post-transaction monitoring.
Luc is one of two executive members of the Mezzanine Funds’ Investment Committees, and has played a leading role in the thirty investments executed by the three funds since 2007.
Prior to joining Vantage in 2006, Luc spent time as a Strategy Consultant with Bain & Co. in Paris and with Accenture in Johannesburg. After completing his MBA at INSEAD, he joined the International Finance Corporation (IFC) based in Washington DC. At the IFC, Luc worked on advisory and investment projects in Brazil, Gabon, Romania and Bosnia & Herzegovina.
On returning to South Africa in 1998, Luc joined Brait as a Deal Executive responsible for investments in various key sectors.
Luc then spent two years in Poland as founder / CEO of an employee benefits business, before returning to establish Standard Bank’s private equity department, with its focus on mezzanine transactions in the mid-market. Luc went on to head up Standard Bank’s mezzanine finance department, co-leading several noteworthy transactions which included funding for the buy-out of the South Africa subsidiary of Waco International, and providing a R1 billion mezzanine tranche for the De Beers empowerment transaction.
Luc holds an MBA from the INSEAD Business School in Fontainebleau, France. He studied for his undergraduate economics degree at the Institute for Political Studies in Paris.
Managing Partner
CA(SA), B.Com (Hons), M.Com (Wits)
Warren is the Managing Partner of Vantage’s mezzanine funds. He joined Vantage in 2007, originally as Chief Financial Officer, where he ran the finance and reporting function of the group, but was also active in operational activities such deal assessment, the execution of several transactions, monitoring of certain investments and fundraising. Warren has 26 years of experience in corporate banking & mezzanine finance.
Warren is the co-Managing Partner of Vantage’s mezzanine funds. He joined Vantage in 2007, originally as Chief Financial Officer, where he ran the finance and reporting function of the group, but was also active in operational activities such deal assessment, the execution of several transactions, monitoring of certain investments and fundraising. Thereafter he moved into a Chief Operating Officer role, focused on the group’s primary activities of investing, portfolio monitoring and fundraising. Warren was promoted to Managing Partner in 2018.
Warren is a qualified Chartered Accountant who served a year of academic articles at the University of Witwatersrand and then completed his articles at Arthur Andersen. He embarked on a banking career as an Account Executive in the corporate banking division of Standard Corporate & Merchant Bank, managing the bank’s relationships with its mining clients.
Warren then assumed a new business development role, going on to lead a team of transactors. Subsequently, he joined the bank’s acquisition finance team where he successfully concluded a number of leveraged finance transactions, before joining Vantage.
Warren is a Chartered Accountant and earned his undergraduate, honours and masters degrees in Commerce at the University of the Witwatersrand.
Managing Director – Vantage GreenX
CA(SA), B.Com, Hons B Compt
Alastair joined Vantage in January 2014 and is a Director of Vantage GreenX, and member of its Investment Committee. His primary responsibilities include the assessment, structuring, execution and post-transaction monitoring of senior debt advanced to projects in the sustainable energy space. He has overseen the 14 solar and wind investments that the two GreenX funds have executed to date.
Alastair has 20+ years of experience in Project Finance.
Alastair joined Vantage in January 2014 and is the Managing Director of Vantage GreenX and a member of its Investment Committee. His primary responsibilities include the assessment, structuring, execution, and post-transaction monitoring of senior debt advanced to projects in the sustainable energy space. He has overseen the fourteen solar and wind investments that the two GreenX funds have executed to date.
Alastair is a qualified Chartered Accountant. He completed his articles in 1995 at Deloitte in Johannesburg, before moving to the UK where he worked for NatWest Markets and then Standard Bank London in its project finance team. While at Standard Bank London he worked on infrastructure and power sector transactions in numerous countries across the African continent and Eastern Europe.
In 2003, Alastair transferred back to South Africa to join Standard Bank’s Corporate and Investment Banking division where he headed up the renewable energy finance team. He oversaw the funding of more than R15bn of debt into wind and solar projects under the REIPP procurement process.
Alastair was President of the UCT Rowing Club in 1986-87 and he represented South Africa in 1987, rowing for Trident Rowing Club (the national squad). When he isn’t managing the GreenX Notes, Alastair is a commissioned artist.
Chief Financial Officer – Vantage Capital Group
CA(SA)
Siya joined Vantage in 2011 as a Financial Controller, assisting the then Chief Financial Officer, Warren van der Merwe, with the overall finance function. After three years in this role he joined the partners of Kleoss Capital as a Chief Financial Officer, responsible for the set-up of the Kleoss Fund I.
Siyanda has 4 years in private equity.
Siya joined Vantage in 2011 as a Financial Controller, assisting the then Chief Financial Officer, Warren van der Merwe, with the overall finance function. After three years in this role he joined the partners of Kleoss Capital as a Chief Financial Officer, responsible for the set-up of the Kleoss Fund I. At Kleoss Capital, Siya’s activities included negotiating the terms of the fund agreements with the fund’s investors and prospective investors, setting up the entire finance function, the investor reporting, and most of the day-to-day operational functions of the company.
Siya spent two years in this role before re-joining Vantage Capital as Chief Financial Officer in 2016, having gained years of institutional knowledge.
Siya graduated from the University of Kwa-Zulu Natal with a B.Com (Accounting Honours) degree and is a qualified Chartered Accountant. He completed his TOPP articles with the Standard Bank Group.
Partner
CA(SA), CFA, M.Com (UCT)
David joined Vantage in 2010 and is a Partner focused on the mezzanine funds. He covers South Africa, Egypt, Namibia and Botswana and oversees the fund’s investments in Servest (South Africa), Sky Realty (Egypt) and United Africa Group (Namibia). David has over 20 years of experience in mezzanine debt, private equity and specialised finance.
David has over 20 years of experience in mezzanine debt, private equity and specialised finance. He joined Vantage in 2010 as a member of the Mezzanine investment team, at the start of Fund II. Over his tenure at the firm, he has worked on transactions across South Africa, Egypt, Ethiopia, Botswana, Namibia, Ghana, Côte d’Ivoire, Zambia and Mozambique. His portfolio of transactions include PickAlbatros Hotels (Egypt), Sky Realty (Egypt), Petro Ivoire (Côte d’Ivoire), United Africa Group (Namibia), Dynamic Bedding (South Africa), Servest (South Africa), Austell (South Africa), Primedia (South Africa) and New Reclamation Group (South Africa).
David began his career serving a year of academic articles at the University of Cape Town in 2003, where he lectured and tutored Accounting II, III and IV students while completing his Master of Commerce. He then joined KPMG’s Financial Services audit division in Johannesburg from 2004 to 2005, where he completed his articles. He relocated to London in 2006, taking a position at Barclays Bank as Finance Manager in their global headquarters. Later that year, he transferred to the bank’s emerging market regional headquarters in Dubai, joining their leveraged finance team, where he worked on a variety of leveraged buyout transactions within the Gulf region from 2006 to 2009. While in this team, he was promoted to Associate Director.
David is a qualified CA (SA) and a CFA charterholder. He holds a Master of Commerce, Post Graduate Diploma in Accounting and a Bachelor of Business Science (Finance honours) from the University of Cape Town.
Partner
MSc in Risk & Investment Mgmt (EDHEC)
Driss joined Vantage in 2017 and is a Partner responsible for originating and assessing transactions in Maghreb and West African francophone markets. He oversees the Fund’s investment in Petro Ivoire, Equity Invest and CIM Santé. Before joining Vantage, he worked at InfraMed Management, an infrastructure fund based in Paris. Before that, he worked for Amethis Finance in their Paris office. Driss has 11 years of experience in private equity & Project Finance.
Chief Financial Officer – Vantage Best in Class
ACA (ICAEW), BSc (Hons)
Pavel has worked for Deloitte, both in Bulgaria and in the UK, for over 7 years, spending his time predominantly within the Audit & Assurance and Transaction Services departments. He graduated with a degree in Accounting and Finance (BSc) from the Warwick Business School and in his time in Deloitte, Pavel became a member of the ICAEW Chartered Accountants (ACA).
Pavel joined Vantage Best in Class at the beginning of 2022. In addition to his responsibilities at Vantage Best in Class, he is working as the CFO of Maple Bear Central Europe, Maple Bear Polska and Maple Bear Czechia.
Pavel has worked for Deloitte, both in Bulgaria and in the UK, for over 7 years, spending his time predominantly within the Audit & Assurance and Transaction Services departments. He graduated with a degree in Accounting and Finance (BSc) from the Warwick Business School and in his time in Deloitte, Pavel became a member of the ICAEW Chartered Accountants (ACA).
Associate Partner
CFA, MBA (Duke), B.Bus.Sc (UCT)
Roshal joined Vantage in 2020. He is an Associate Partner in the Mezzanine division, covering South Africa and East Africa.
Roshal has 10 years of experience in banking, mezzanine and structured equity.
Roshal joined Vantage in 2020. He is an Associate Partner in the Mezzanine division, covering South Africa and East Africa.
Roshal has 9 years of experience in banking, mezzanine and structured equity. He began his banking career at Barclays Africa, where he spent 2 years as a graduate analyst in M&A based in London and Johannesburg. He thereafter joined Rand Merchant Bank (RMB) as a Transactor in their Principal Investments division, where he concluded a number of successful transactions over his 5 year tenure. Roshal then left RMB to pursue further studies, completing his MBA at Duke University in North Carolina (US). Whilst studying, Roshal spent his spare time working as a Venture Fellow at Blackstone Entrepreneurs Network working with high-growth start-ups. After completing his MBA, Roshal joined Microsoft, focusing on strategic financial projects and new business models across their US Enterprise business. He returned to South Africa to join Standard Bank as a Senior Dealmaker and executed a number a structured equity transactions prior to joining Vantage.
Roshal holds a Bachelor of Business Science from the University of Cape Town and an MBA from Duke University. He is also a qualified CFA charterholder.
Associate Partner: Legal
B.Com (Law) LLB
Derek joined Vantage in 2019 and is Vantage’s Associate Partner: Legal, assisting the investment team with the assessment, structuring, execution, post-transaction monitoring and exiting of investments, as well as holding responsibility for company secretarial and compliance matters. Derek has 10 years of experience in practising corporate and commercial Law.
Associate Partner
BSc in Mathematics & Economics
Darshan joined Vantage in 2019. He is an Associate Partner
in the mezzanine division, covering South Africa and East Africa
investment activities. Darshan has 8 years of experience in
corporate finance, venture capital and mezzanine. Darshan has 11 years of experience in VC, private equity and corporate finance.
Darshan joined Vantage in 2019. He is an Associate Partner in the mezzanine division, covering South Africa and East Africa investment activities. Darshan has 8 years of experience in corporate finance, venture capital and mezzanine.
Prior to joining Vantage, he worked in the transaction advisory division at I-DEV International, a boutique investment advisory firm with offices in Nairobi, Lima and San Francisco. Working at their Africa regional offices in Nairobi, Darshan was involved in assessing and structuring various sell-side venture capital and growth equity transactions across tech, manufacturing, FMCG and retail sectors.
He began his career, at PKF Consulting in Nairobi within the Corporate Finance team. During that time, he conducted numerous commercial viability assessments, financial modelling, due diligence and valuation engagements in East Africa for private and publicly listed companies.
Darshan holds a Bachelor of Science degree in Mathematics & Economics from the London School of Economics with first class honours.
Associate Partner
CFA, BBA (Finance), BA (Economics)
Before joining Vantage, Omar spent three years as an Equity Research Analyst with EFG Hermes – one of the leading investment banks in Africa. In this role, he analysed publicly listed companies in the MENA region, while advising asset-managers and hedge-fund managers on
various investment opportunities. Omar has 8 years of experience in Equity Research & Investment Banking.
Omar joined Vantage in 2019 and is a Senior Associate focusing on originating and assessing transactions in South Africa, Egypt and Ethiopia.
Before joining Vantage, Omar spent three years as an Equity Research Analyst with EFG Hermes – one of the leading investment banks in Africa. In this role, he analysed publicly listed companies in the MENA region, while advising asset-managers and hedge-fund managers on various investment opportunities.
Prior to that, Omar was a summer analyst at EFG-Hermes Investment Banking division, where he worked closely with clients across M&A and capital market transactions.
Omar received his double degree (Bachelor of Business Finance and Bachelor of Arts in Economics) from the American University in Cairo. He is also a CFA charterholder.
Senior Associate
CFA, MSc (Corporate Finance), BSc
(Mathematics & Accounting)
Prior to joining Vantage, Tobi spent four years as an Investment Banker in the advisory business of Chapel Hill Denham, a leading Nigerian Investment Bank, where he advised large Nigerian corporates and international investors across M&A and capital markets. In doing so, he covered several industry sectors, including FMCG, real estate, industrials and financial services. Tobi has 9 years of experience in Investment Banking.
Tobi joined Vantage in 2019 and is a Senior Associate assisting with originating and accessing transactions in South Africa, Nigeria and Ghana.
Prior to joining Vantage, Tobi spent four years as an Investment Banker in the advisory business of Chapel Hill Denham, a leading Nigerian Investment Bank, where he advised large Nigerian corporates and international investors across M&A and capital markets. In doing so, he covered several industry sectors, including FMCG, real estate, industrials and financial services.
Tobi received his Master’s Degree (Corporate Finance) from Cass Business School, UK, and his Bachelor of Science Degree (Mathematics, Accounting and Financial Management) from Loughborough University, UK. He became a CFA (Chartered Financial Analyst) Charterholder in 2019.
Senior Associate
MSc in IPE & Finance, BSc in Management (LSE & Dauphine)
Prior to joining Vantage, she spent five years in Investment Banking, in the Sovereign Advisory division of Rothschild & Co, where her job entailed advising sovereign and corporate clients across EMEA and LATAM on strategic financial issues. Cherine began her career in a private debt fund based in London. Chérine has 7 years of experience in Investment Banking & Private Equity.
Chérine joined Vantage in 2023 as a Senior Associate, and assists in the coverage of the francophone markets.
Prior to joining Vantage, she spent five years in Investment Banking, in the Sovereign Advisory division of Rothschild & Co, where her job entailed advising sovereign and corporate clients across EMEA and LATAM on strategic financial issues. Cherine began her career in a private debt fund based in London.
Senior Associate
B.Bus.Sci (Finance)
Before joining Vantage, Abigail spent two years working in the Goldman Sachs Sub-Saharan Africa Investment Banking team, where she worked closely with clients across Africa covering both M&A and capital market transactions. Prior to Goldman, Abigail worked as an investment banking intern at Citi Group in Johannesburg and London. Abigail has 7 years of experience in investment banking and private equity.
Abigail joined Vantage in 2020. She is a Senior Associate focusing on originating and assessing transactions in South Africa, Namibia, Botswana and Mauritius.
Before joining Vantage, Abigail spent two years working in the Goldman Sachs Sub-Saharan Africa Investment Banking team, where she worked closely with clients across Africa covering both M&A and capital market transactions. Prior to Goldman, Abigail worked as an investment banking intern at Citi Group in both Johannesburg and London.
Abigail received her Bachelor of Business Science degree specialising in Finance from the University of Cape Town.
Associate
Msc (Economics & Mgmt), ESSEC
Abdoulaye joined Vantage in 2021 as a Senior Analyst, and assists with assessing and executing transactions in West African and Maghreb francophone markets. Abdoulaye began his career at Amethis, a Pan-African private equity firm investing in equity and debt across various sectors. Prior to that, he interned at Oakam, a micro-lending institution based in London, and at BeMyEye, a French tech-enabled retail intelligence company. Abdoulaye has 5 years of experience in
private equity & finance.
Abdoulaye Fall joined Vantage in 2021 and is an Associate, assisting with assessing and executing transactions in West African and Maghreb francophone markets.
Abdoulaye began his career at Amethis, a Pan-African private equity firm investing in equity and debt across various sectors. Prior to that, he interned at Oakam, a micro-lending institution based in London, and at BeMyEye, a French tech-enabled retail intelligence company.
Abdoulaye holds a French ‘Grande Ecole’ degree in Business and a M.Sc in Economics and Management from ESSEC Business School.
Associate: Legal
B.Com (Economics & Law), LLB
Samantha joined Vantage in 2022 as an Associate in the legal team, assisting the investment team with the assessment, structuring, execution, post-transaction monitoring and exiting of investments.
Prior to joining Vantage, Samantha spent four years with Webber Wentzel (in alliance with Linklaters), a pre-eminent South African law firm. Samantha has 6 years of experience practising corporate and commercial law.
Samantha Owen joined Vantage in 2022 as an Associate in the legal team, assisting the investment team with the assessment, structuring, execution, post-transaction monitoring and exiting of investments.
Prior to joining Vantage, Samantha spent four years with Webber Wentzel (in alliance with Linklaters), a pre-eminent South African law firm. She specialised in banking and finance, with a focus on general banking and finance, preference share funding, acquisition finance and fund financing, acting for borrowers and lenders (both onshore and offshore). Her experience includes transactions across the mining, energy, healthcare and telecommunications sectors.
Samantha completed both a B.Com(Economics & Law) (with distinction) and an LLB (with distinction) at the University of the Witwatersrand.
ESG Officer
B.Soc.Sci Honours (Geography & Enviro Mgmt)
Prior to joining Vantage, Sarah was a Senior Social Consultant at EBS Advisory, a leading African ESG Advisory firm. Sarah specialised in E&S due diligence assessments, E&S management systems, as well as Impact and ESG reporting. Prior to this Sarah had worked for over 10 years as an Environmental and Social Consultant specialising in ESIAs, E&S risk management, E&S Compliance Auditing, and Public Participation and Stakeholder Engagement. Sarah has 14 years of experience in ESG consulting.
Sarah Watson joined Vantage in 2021 and is Vantage’s ESG Officer. Prior to joining Vantage, Sarah was a Senior Social Consultant at EBS Advisory, a leading African ESG Advisory firm. Sarah specialised in E&S due diligence assessments, E&S management systems, as well as Impact and ESG reporting. Prior to this Sarah had worked for over 10 years as an Environmental and Social Consultant specialising in ESIAs, E&S risk management, E&S Compliance Auditing, and Public Participation and Stakeholder Engagement.
Sarah holds a B.Soc.Sci (Geography & Environmental Management) Honours degree from the University of KwaZulu-Natal, which she completed Cum Laude.
Compliance Officer & Company Secretary
LLB
Dishen joined Vantage in 2021 as Compliance Officer and Company Secretary. He has worked as a consultant and legal advisor specialising in fund compliance and corporate governance in the financial services industry. After completing a stint at Legal Aid South Africa, Dishen joined Alexander Forbes in 2013 as a consultant specialising in insurance and retirement fund law. Dishen has 12 years of experience in financial services legal & compliance.
Dishen joined Vantage in 2021 as Compliance Officer and Company Secretary. He has worked as a consultant and legal advisor specialising in fund compliance and corporate governance in the financial services industry. After completing a stint at Legal Aid South Africa, Dishen joined Alexander Forbes in 2013 as a consultant specialising in insurance and retirement fund law. In this role he worked with a number of large South African based retirement funds in the private sector.
Prior to joining Vantage, Dishen worked as a compliance officer and legal advisor at Discovery Life in Johannesburg. He specialised in compliance, umbrella funds, group risk insurance cover and discretionary investment products.
Dishen obtained an LLB from the University of KwaZulu Natal, and a post graduate qualification from the University of the Witwatersrand in Retirement Fund Laws.