TBI Group

What TBI Group does

TBI Group is a Cape Town-based, privately held investment management firm (FSP No: 42968, registered 1993) that designs and co-manages alternative income-focused funds for South African high-net-worth individuals, trusts, institutions, and corporate treasurers. Its core portfolio comprises two domestic funds co-managed with Sanlam Collective Investments — the SCI Alternative Income Fund (SAIF, launched 2007, holding nearly R8 billion and rated AA by Global Credit Ratings Co) and the SCI Diversified Income Fund of Funds (SDIFOF, launched 2009, with zero monthly drawdowns since inception) — and two Irish-domiciled UCITS ETFs (TBI Global Multi-Asset Income Fund and TBI Global Targeted Yield Fund) inward-listed on the JSE in 2025 to provide rand-hedged global income exposure. The company generates revenue principally through recurring fund management fees on these co-managed schemes and through advisory fees from renewable energy deal work, the latter delivered via the Amandla Renewable Energy Fund co-managed with Momentum Metropolitan Life Limited, which provides equity and mezzanine funding to Independent Renewable Power Producers under South Africa's REIPPP programme. Fund design centres on after-tax income (dividend-based returns from bank-issued redeemable preference shares and structured credit instruments) rather than pre-tax performance, with distribution handled through the Sanlam and Prescient networks, independent financial advisors, and direct institutional relationships.

Name

TBI Group

Legal name

TBI Group

Website

https://tbi.co.za

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

11–50 employees

Short description

TBI Group is a Cape Town-based, privately held alternative investment manager that co-manages tax-efficient income funds with Sanlam and Momentum, serving South African high-net-worth individuals, trusts, institutions, and renewable energy IPPs.

Ownership category

akta.pro rank

Product category

Investment Management & Asset Management

NAICS

Open-End Investment Funds (525910)

SIC

Finance Services (6199)

akta.pro primary industry

UCITS / Liquid Alternatives Fund of Funds (FSAHAKAE)

Keywords

• Alternative income funds
• Asset management
• Collective investment schemes
• Renewable energy financing
• UCITS ETF distribution

Headquarters

HQ city

Cape Town

HQ country

South Africa

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Fund Management Fees: TBI earns management fees as co-manager of Sanlam Collective Investment schemes including SAIF, SDIFOF, and global funds. Fees are structured through the fund management arrangement with Sanlam and Prescient.
2. Alternative Investment Management: Revenue generated from managing alternative income funds focused on unlisted and uncorrelated assets including redeemable preference shares, structured finance instruments, and renewable energy investments.
3. Renewable Energy Advisory Services: TBI acts as trusted adviser to Independent Renewable Energy Power Producers, assisting with equity and mezzanine funding requirements. Revenue derived from advisory fees and co-management of the Amandla Renewable Energy Fund with Momentum Metropolitan.

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

TBI Group is a South African investment management company that designs, co-manages, and distributes conservative alternative-income investment funds for high-net-worth individuals, trusts, and institutions. Its product set includes two Sanlam co-managed domestic funds (SCI Alternative Income Fund and SCI Diversified Income Fund of Funds) and two global UCITS ETFs (TBI Global Multi-Asset Income Fund and TBI Global Targeted Yield Fund) listed on the JSE. Additionally, TBI provides equity and mezzanine funding solutions to Independent Renewable Energy Power Producers through the Amandla Renewable Energy Fund co-managed with Momentum Metropolitan.

Product overview

TBI Group is a South African investment management company offering a portfolio of alternative income-focused investment products. The core offerings consist of four main funds: two domestic funds (SCI Alternative Income Fund and SCI Diversified Income Fund of Funds, co-managed with Sanlam) that focus on tax-efficient dividend and income generation within South Africa, and two global funds (TBI Global Multi-Asset Income Fund and TBI Global Targeted Yield Fund) that provide rand-hedged offshore exposure to global credit and multi-asset opportunities. Additionally, TBI provides renewable energy financing services through equity and mezzanine funding for Independent Power Producers. The company's investment philosophy emphasizes after-tax returns, capital preservation, and conservative income generation for high-net-worth individuals, trusts, and institutions.

Differentiator

Problem solved

Functional benefit

Brands

• Amandla Renewable Energy Fund: Mezzanine funding fund co-managed with Momentum Metropolitan Life Limited for REIPPP projects that have reached Commercial Operation Date.
• Blue Sky Foundation

Products and services

• SCI Alternative Income Fund (SAIF) A conservative income fund focusing on dividend-yielding investments such as redeemable preference shares issued by large banks and highly rated financial institutions. Co-managed by TBI and Sanlam, it aims to outperform its after-tax money market fund benchmark while maintaining daily liquidity and capital preservation. Targeted at high-net-worth individuals, trusts, and institutional investors.
• SCI Diversified Income Fund of Funds (SDIFOF) A short-duration fund of funds providing a diversified approach to after-tax income generation with superior after-tax returns, low volatility, and 48-hour liquidity. Co-managed by TBI and Sanlam, it has maintained zero negative months since inception in 2009. Targeted at investors seeking diversified income exposure beyond a single asset class.
• TBI Global Multi-Asset Income Fund An Irish UCITS Fund (inward-listed as an Actively Managed Exchange Traded Fund on the JSE) providing global multi-asset exposure with an income focus. Fully rand-hedged, offering South African investors access to global high-quality assets without exchange control complexity. Targeted at South African investors seeking rand-hedged global income diversification.
• TBI Global Targeted Yield Fund A conservative offshore exposure fund targeting SOFR + 2% returns through high-quality, short-term global debt instruments. Fully rand-hedged and JSE-listed, delivering predictable monthly income for retirement portfolios, surplus cash, or conservative investors seeking global diversification.
• Renewable Energy Equity and Mezzanine Funding Advisory and funding service assisting Independent Renewable Power Producers (IPPs) with equity and mezzanine funding solutions, delivered through the Amandla Renewable Energy Fund co-managed with Momentum Metropolitan Life Limited. Targeted at large-scale renewable energy project developers under the South African REIPPP programme.

Quantifiable outcome

• Nearly R8 billion under management across SAIF fund alone
• +5 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• SanlamcoreChannel Partner/ Reseller/ DistributorLong-standing co-management partnership for Sanlam Collective Investment schemes including SAIF and SDIFOF. Sanlam provides extensive distribution network and institutional credibility. Partnership spans nearly 18 years.
• Momentum Metropolitan Life Limited (MML)coreStrategic or Co-development PartnerCo-managers and joint owners of the Amandla Renewable Energy Fund, providing mezzanine funding for renewable energy projects. Strategic partnership combining TBI's alternative investment expertise with Momentum's balance sheet.
• PrescientcoreChannel Partner/ Reseller/ DistributorPrescient Management Company (RF) (Pty) Ltd serves as the registered manager for TBI's funds under CISCA. Handles fund administration and regulatory compliance.
• Blue Sky FoundationminorStrategic or Co-development PartnerIan Donovan serves as Director of Blue Sky Foundation, which helps Community Trusts unlock financial benefits from REIPPP projects, directing income toward education for children in communities.
• Ninety OneminorGTM or Marketing PartnerCollaborative webinar partnership with Ninety One on global diversification topics, featuring Eugene Goosen alongside Ninety One's Co-Head of Equity and Multi-Asset.

Scale indicators10 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Ninety One: South Africa/UK dual-listed asset manager with comparable multi-asset income and global credit strategies; one of the few JSE-listed competitors offering both domestic and offshore income funds similar to TBI's portfolio.
• Foord Asset Management: Privately-owned South African boutique asset manager with conservative income and multi-asset strategies marketed through the same IFA channel that distributes TBI's funds.
• Sygnia: JSE-listed South African asset manager with a strong ETF and index-tracking franchise alongside actively managed funds, including income strategies that overlap with TBI's SCI Diversified Income Fund of Funds.
• Allan Gray: One of South Africa's largest independent asset managers with comparable balanced, income, and offshore fund offerings aimed at the same HNW and intermediary distribution network.
• Ashburton Investments: Asset management subsidiary of FirstRand offering income, multi-asset, and global strategies in South Africa, overlapping with TBI's domestic and offshore fund lineup.
• Prescient: TBI's fund administration and management partner under CISCA, also operating its own collective investment scheme platform that competes for retail and institutional investment mandates.
• Coronation Fund Managers: JSE-listed South African boutique asset manager with overlapping income, multi-asset, and global strategies; competes for the same HNW and institutional client base via advisor channels.
• Sanlam Investments: Sanlam's investment management arm and TBI's primary co-management and distribution partner; competes in the same South African collective investment scheme space, particularly income and multi-asset strategies.
• Momentum Investments: Asset management arm of Momentum Metropolitan and TBI's joint co-manager of the Amandla Renewable Energy Fund; competes in income and balanced strategies while partnering on the renewable energy mezzanine strategy.

Broad incumbents

• Stanlib: Asset management subsidiary of Liberty/Standard Bank Group offering a broad multi-asset, income, and global product shelf; a much larger incumbent with overlapping offerings but a wider portfolio beyond TBI's niche focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@tbigroup1746
• LinkedInlinkedin.com/company/tbi_group/posts/?feedView=all

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about TBI Group