Old Mutual has announced its agreement to acquire a majority stake in 10X Investments, a South African-based provider of passive, technology-driven investment solutions. The stake is being acquired from Old Mutual Private Equity (OMPE) and DiGAME Investments, in a deal valued at R2.2 billion (approximately $127.4 million). The transaction is subject to standard closing conditions and regulatory approvals, with completion anticipated in the second quarter of 2026.
Under the terms of the deal, 10X’s management team will retain a significant equity interest, ensuring continuity in leadership and strategic direction. The company will continue to operate independently under its existing brand and structure, while working closely with Old Mutual Wealth to unlock synergies and accelerate growth.
Founded with a mission to democratize investing, 10X has positioned itself to benefit from the global generational wealth transfer by offering low-cost, long-term savings and investment products tailored to a broad spectrum of clients. Since its acquisition by OMPE and DiGAME, the firm has experienced rapid growth, expanding its assets under management from R3 billion (about $173.9 million) to over R68 billion (roughly $4 billion), and now serves more than 60,000 clients. It holds a market-leading position in net flows into passive investment vehicles, including ETFs and smart beta solutions.
Jurie Strydom, Chief Executive of Old Mutual, commented:
This strategic acquisition strengthens our ability to deliver competitive investment solutions in the South African market. It positions Old Mutual as a key player in the rules-based passive investment space. We share 10X’s long-term vision and see this partnership as a way to broaden access to high-quality investment products. It also accelerates our retail direct strategy, leveraging 10X’s strong presence in the self-directed retail segment, its future-fit technology, and its impressive track record of asset growth. With our capital strength and distribution capabilities, we aim to support 10X’s continued expansion and deliver sustained returns to shareholders.
Farhad Sader, Managing Director of Old Mutual Wealth, added:
The collaboration between 10X and Old Mutual Wealth has already revealed multiple areas of opportunity that create immediate value. We’re excited to deepen our partnership as 10X embarks on its next phase of accelerated growth.
Reflecting on the journey, Jacci Myburgh, Co-Head at Old Mutual Private Equity, said:
Our investment thesis was to improve retirement outcomes by reducing fees, simplifying investment choices, and scaling technology. 10X has delivered on that vision. The team built a trusted brand, expanded its product offering, and developed an operating platform capable of serving millions of South Africans who need better long-term savings solutions.
This acquisition marks a significant step in Old Mutual’s strategy to enhance its investment capabilities and expand its footprint in the passive investment space, while reinforcing its commitment to financial inclusion and innovation.
