Silverpoint Capital sold 226 million worth of Pepkor shares, cutting its stake from 8.51 to 4.45 in under two weeks.
The move follows Ibexs 1.6 billion exit and PICs stake increase, reshaping Pepkors institutional investor base and board dynamics.
Despite shareholder churn, Pepkor posted 23.4 profit growth and opened 111 new stores across Africa in H1 2025.
US-based hedge fund, Silverpoint Capital, offloaded nearly 226 million worth of shares in Pepkor Holdings Ltd., reducing its stake in less than two weeks to 4.45 percent in the South African retail giant backed by billionaire Christo Wiese.
The disposal, confirmed by Pepkor in a shareholder notice on Aug. 4, reflects a swift strategic retreat from its initial 8.51 percent holding.
Silverpoint trims stake early after bold entranceThe Greenwich, Connecticut-based fund, which manages about 39 billion in assets, notified Pepkor and South Africas Takeover Regulation Panel that it had offloaded R4.06 billion 225.94 million worth of shares on July 30. This trimmed its stake from R8.41 billion 470.4 million to R4.43 billion 246.7 million in just eleven days.
Silverpoints initial entry via an 8.51 percent stake acquired on July 25 was seen as a bold bet on Pepkors recovery and Christo Wieses discount retail empire. But the rapid selloff suggests a tactical recalibration, likely aimed at locking in short-term gains or mitigating risks tied to South Africas consumer environment and Pepkors post-Steinhoff baggage.
The hedge fund is known for investing in distressed or undervalued assets with recovery upside, and its sharp reduction introduces fresh volatility to Pepkors investor base. The company owns nearly 6,000 retail outlets across Africa and added 111 new stores in H1 2025 alone.