What Westbrooke Alternative Asset Management does

Westbrooke Alternative Asset Management is a privately held, multi-asset and multi-strategy alternative investment manager founded in 2004 and headquartered in Johannesburg, with additional offices in London and Boca Raton. The firm manages approximately R13bn (~$1bn) of assets on behalf of South African high-net-worth individuals, UK and US investors, and a network of more than 120 South African wealth advisory firms. Its product suite is organised around four pillars — private debt (UK Yield Plus and SA Income Plus funds), hybrid capital (Westbrooke Dynamic Opportunities), private equity (Westbrooke UK Private Equity Fund), and real estate (UK real estate debt, US residential, and US mobile home parks) — augmented by a tax-enhanced renewable energy strategy (Westbrooke Real) that invests in South African solar PV projects under Sections 12B and 12BA of the Income Tax Act.

The business model is subscription-based fund management: investors commit capital into closed or open-ended vehicles that deploy into secured, asset-backed loans, hybrid unitranche structures, co-investment MBOs and growth equity alongside specialist independent sponsors, or into operational real estate and renewable energy assets. Westbrooke distinguishes itself by investing material balance sheet capital alongside fund investors in every transaction, by deploying owner-operator underwriting capabilities into lower-mid-market deals in the £10-50m enterprise value range, and by maintaining on-the-ground origination teams in South Africa, the UK and the United States. Revenue is generated through management fees on AUM, performance fees on flagship vintages such as Yield Plus and WDO Fund I, and transaction-level structuring fees on bespoke capital solutions mandates.

Distribution is dual-track: a direct sales force targets sophisticated investors with minimums from £100,000 (or £25,000 via platforms), while a parallel intermediary channel leverages more than 120 wealth advisory firms across South Africa, offshore endowment wrappers, and a 2025 distribution partnership with Rand Merchant Bank to reach African institutional and private banking clients. The firm is privately held with no parent company, and key leadership includes founder and CEO Martin Sacks alongside Dino Zuccollo (Head of Investor Solutions), Rob Grieve (Head of Private Equity UK), Richard Asherson (Head of UK) and Jonti Osher (Head of South African Capital Solutions).

Name

Westbrooke Alternative Asset Management

Legal name

Westbrooke Alternative Asset Management

Website

https://westbrooke.co.za

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

Westbrooke is a privately held, multi-asset alternative investment manager founded in 2004, managing approximately $1bn in private debt, hybrid capital, private equity, real estate and renewable energy funds across South Africa, the UK and the United States.

Ownership category

akta.pro rank

Product category

Alternative Asset Management

NAICS

Portfolio Management and Investment Advice (52394), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Private Markets Fund of Funds (PE / VC / Private Credit FoF) (FSAHAKAF)

Keywords

• Private credit lending
• Alternative asset management
• Hybrid capital financing
• Private equity co-investment
• Real estate debt solutions

Headquarters

HQ city

Johannesburg

HQ country

South Africa

HQ region

Africa

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Private Debt: Provides secured, short-to-medium-term loans to businesses and real estate sponsors. Generates interest income and fees from lending activities. Includes Westbrooke Yield Plus (UK private credit), Westbrooke Income Plus (SA private debt), and Westbrooke Dollar Plus (USD private debt).
2. Hybrid Capital: Unitranche and bespoke hybrid capital financing combining debt-like protections with equity upside participation (preferred equity, equity warrants, co-investments). Westbrooke Dynamic Opportunities funds in UK and SA.
3. Private Equity: Co-investment alongside experienced private equity sponsors in management buyouts and growth capital transactions in UK lower-mid-market businesses. Westbrooke UK Private Equity Fund.
4. Real Estate: Real estate equity and debt investments across UK, USA, and South Africa. Includes residential development, commercial lending, and operational real estate such as aparthotels, pubs, and leisure assets.
5. Tax-enhanced Investing (Westbrooke Real): Renewable energy investments in South African solar PV projects, leveraging Sections 12B and 12BA tax incentives of the Income Tax Act to offer investors enhanced tax deductions up to 200% of invested capital.

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels12 records

Core offering

Westbrooke is a multi-asset, multi-strategy manager and advisor of alternative investment funds and co-investment platforms operating across South Africa, the United Kingdom, and the United States. The company manages and advises funds across private debt, hybrid capital, private equity, real estate, and tax-enhanced (solar PV) investing strategies, while also providing direct lending, real estate lending, and private equity capital solutions to lower-mid-market businesses. Core products include Yield Plus (UK private credit), Income Plus (SA private debt), Dynamic Opportunities (hybrid capital), Westbrooke UK Private Equity, USA Residential, and Westbrooke Real renewable energy.

Product overview

Westbrooke Alternative Asset Management is a multi-asset, multi-strategy manager and advisor of alternative investment funds operating across South Africa, the United Kingdom, and the United States. The company offers a unified platform of private market investment products structured to preserve and compound client wealth. The product suite comprises four core pillars: Private Debt (Yield Plus for UK, Income Plus for SA), Hybrid Capital (Dynamic Opportunities), Private Equity (UK Private Equity Fund), and Real Estate (USA Residential, UK Real Estate Debt), with Tax-enhanced Investing through the Westbrooke Real renewable energy strategy. Each product targets specific geographic markets and investor profiles, with the UK-focused funds emphasizing property-backed private credit generating 7-8% sterling returns, the SA funds offering domestic private debt and renewable energy solar PV investments leveraging tax incentives, and the US platform providing residential real estate and corporate capital solutions.

Differentiator

Problem solved

Functional benefit

Brands

• Westbrooke Yield Plus: UK-focused private credit fund offering 7-8% returns in sterling, backed by property-secured loans
• Westbrooke Income Plus
• Westbrooke Dynamic Opportunities
• Westbrooke Real (Renewable Energy Alternatives)
• Westbrooke USA Residential

Products and services

• Westbrooke Yield Plus Private credit fund targeting UK property-backed loans that generates 7-8% returns in sterling with a conservative 56% loan-to-value ratio; currently holds approximately £226 million in assets across 43 loans. Targeted at South African investors seeking offshore private-market exposure and direct UK investors, accessible via direct subscription from £100,000 or via platforms from £25,000.
• Westbrooke Income Plus South African private debt fund providing attractive cash yields in excess of traditional fixed income funds (currently approximately 10% per annum); invests in a diversified portfolio of secured, senior, or subordinated, interest-paying credit investments to South African entrepreneurs and mid-market companies. Since 2021, the fund has provided over R3.2 billion across 95+ investments.
• Westbrooke Dynamic Opportunities UK (Fund I and Fund II) Hybrid capital fund providing debt-led approach to UK private equity investing, targeting 6-8% annual cash yield and 15%+ annualized returns. Provides bespoke unitranche and hybrid capital financing combining debt-like protections with equity upside participation through preferred equity, equity warrants, and co-investments. WDO UK Fund I has returned more than 35% of initial committed capital to investors with a run-rate IRR of 15% p.a. and 8% cash yield.
• Westbrooke Dynamic Opportunities SA South African hybrid capital fund providing bespoke unitranche and hybrid-capital financing solutions for South African mid-market companies, combining debt-like protections with equity upside participation.
• Westbrooke UK Private Equity Fund Private equity fund focused on UK lower mid-market businesses, providing unique access to high-quality, cash-generative businesses alongside specialist UK independent sponsors in MBOs and growth-capital transactions with enterprise values typically in the £10–50m range.
• Westbrooke USA Residential Real estate investment strategy focused on the US residential market, providing offshore investment opportunities for South African investors. Encompasses multi-family residential developments in markets underserved by mainstream capital.
• Westbrooke USA Tovia Mobile Home Parks Specialised real estate equity investment in US mobile home park communities, targeting the underserved mobile-home park sector for South African offshore investors.
• Westbrooke Renewable Energy Alternatives (Westbrooke Real) Tax-enhanced investment strategy (Section 12B/12BA) investing in South African commercial and industrial solar PV projects. Portfolio comprises 80 electricity-producing projects totalling 30 MW of installed solar capacity across nine provinces. Investors can potentially recoup capital within approximately two years, followed by attractive yields extending up to 20 years, with tax deductions of up to 200% of invested capital under Section 12B.
• Westbrooke UK Real Estate Debt Solutions Real estate lending solutions in the UK, providing debt financing for property acquisitions, developments, and refinances across commercial, residential, and operational real estate assets. Includes senior debt facilities, holdco debt financing, and bespoke bridge facilities.
• Westbrooke UK Corporate Capital Solutions Direct lending and corporate capital solutions for UK businesses, providing flexible funding for acquisitions, growth capital, and working capital needs. Targets UK lower-mid-market loans typically in the £10–20m range.
• Westbrooke USA Corporate Capital Solutions Debt and non-real estate equity solutions for US businesses, providing capital to US mid-market companies. Includes the upcoming Westbrooke Dollar Plus US dollar-denominated private debt fund for US-based investments.
• Westbrooke South Africa Debt and Equity Capital Solutions Debt and equity capital solutions for South African entrepreneurs and mid-market companies, providing flexible funding across the capital structure including acquisition finance, growth capital, working capital, and NAV finance. Investments support consumer lending, legal finance, residential finance, and other growth-sector SMEs.
• Westbrooke South Africa Renewable Energy Capital Solutions Solar PV equity investments in South African renewable energy projects, leveraging tax incentives under Sections 12B and 12BA of the Income Tax Act. Provides both standalone solar PV investment funds (Westbrooke Real) and direct infrastructure investment capabilities.

Quantifiable outcome

• Yield Plus has delivered stable ~8% net returns in GBP for seven consecutive years without a down month
• +5 more outcomes

Named customers16 records

Segments7 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered minor and core.

• Marston's PLCminorOthers · 28 April 2025UK pub operator whose leasehold pub portfolio across Wales was acquired by Song Capital with Westbrooke financing.
• NrG (Renewable Energy)coreStrategic or Co-development Partner · 7 April 2025Co-investment partner for unlocking growth capital for NrG's existing PPA portfolio of solar projects in South Africa. Westbrooke Real invested alongside NrG in a diversified portfolio.
• Opele SinancoreStrategic or Co-development Partner · 7 April 2025Partner in a co-investment across eight new solar and hybrid projects in South Africa, part of Westbrooke Real's expansion strategy.
• Gaia Fund ManagersminorStrategic or Co-development Partner · 7 April 2025Partner in a renewable energy asset co-investment alongside Westbrooke Real.
• Capricorn Capital Partners UK LimitedcoreStrategic or Co-development Partner · 1 January 2025Westbrooke UK (FRN 792259) is an appointed representative of Capricorn Capital Partners UK Limited (FRN 748414), which is authorised and regulated by the Financial Conduct Authority. This regulatory relationship enables Westbrooke's UK operations.
• Karis CapitalminorChannel Partner/ Reseller/ Distributor · 10 July 2024Debt advisor that introduced the £10m senior debt facility for the North London industrial warehouse refinance. Karis Capital's advisory services played a key role in coordinating professional parties and delivering a timely solution.
• FibonminorStrategic or Co-development Partner · 16 May 2024Partnership to support South African companies in the green energy transition. Collaborative effort with Westbrooke's capital solutions capabilities.
• CVE South AfricaminorStrategic or Co-development Partner · 15 March 2024Partnership to grow South Africa's green economy through renewable energy investments.

Scale indicators28 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Cordiant Capital: Emerging markets-focused alternative asset manager investing in private debt and private equity across frontier and growth markets. Comparable for cross-border EM debt and equity platforms with multi-geography origination.
• Muzinich & Co: Global private credit manager focused on direct lending, corporate credit, and structured solutions for institutional and wealth clients. Comparable for UK/European private credit franchise and wealth distribution model.
• Kartesia: European specialist private debt manager providing unitranche and hybrid capital to lower-mid-market companies. Direct comparable for Westbrooke's WDO-style hybrid capital products.
• 27four Investment Managers: South African multi-asset alternative investment manager offering private debt, credit, and alternative strategies to institutional and HNW investors. Comparable alternative platform with similar geographic roots and product mix.
• Tikehau Capital: European alternative asset manager with private debt, private equity, real estate, and capital solutions strategies targeting mid-market companies. Strong comparable for multi-strategy private credit and hybrid capital activity.

Broad incumbents

• Sygnia: South African-listed asset manager offering diversified investment products and alternative strategies to institutional and retail clients. Broader South African comparable with overlapping alternative product offerings.
• Sanlam Investments: Large South African financial services group with multi-asset investment capabilities including alternatives, credit, and real estate. Broader incumbent reaching SA retail, HNW, and institutional clients through established distribution.
• Investec Asset Management: Major South African-headquartered asset and wealth manager with broad alternative and traditional strategies. Broader incumbent with established South African distribution and private credit capabilities.

Others

• RMB Corvest: South African private equity arm of FirstRand/RMB, co-investor alongside Westbrooke in Hawco, Motormax, and other UK/SA transactions. Closely-linked private equity partner and emerging peer in South African mid-market.
• Capricorn Capital Partners: UK FCA-authorized firm serving as principal to Westbrooke UK as its appointed representative (FRN 792259). Closely linked regulatory partner enabling Westbrooke's UK fund structure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/waam_sa?lang=en
• YouTubeyoutube.com/channel/UCynzNZJa9OYtZF-rwSv3Q_g
• LinkedInlinkedin.com/company/westbrooke-alternative-asset-management

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Westbrooke Alternative Asset Management