Permanent Capital Vehicle

Adinah’s Permanent Capital is founded on a simple but powerful belief: the most meaningful value – both financial and societal – is created over the long term. Our permanent capital vehicle is designed to provide patient, flexible capital to high-quality businesses, enabling them to grow, adapt, and compound value without the constraints of traditional investment horizons. 

We partner with exceptional management teams and founders who are building resilient, cash-generative businesses with strong fundamentals and clear pathways to sustained growth. Our approach is hands-on and collaborative, focused on strengthening operations, supporting strategic expansion, and unlocking long-term value. Without the pressure of fixed exit timelines, we are able to take a more thoughtful, disciplined approach to capital allocation – reinvesting through cycles and backing businesses across multiple phases of their journey.

A core part of our philosophy is recognising that value creation is often non-linear. Many of the best businesses experience step-changes in growth – whether through market expansion, strategic inflection points, or operational transformation. Our permanent capital structure allows us to patiently support these inflection points, providing the time and stability required for that growth to materialise. We are able to underwrite long-term upside, rather than optimise for short-term outcomes, ensuring that businesses are not prematurely exited before their full potential is realised.

Since the roll-up of the underlying holdings into the permanent capital vehicle on 1 March 2022, Adinah has delivered steady growth in share value, reflecting the strength of the underlying portfolio, disciplined capital allocation, and our long-term ownership approach. This consistent performance underscores our focus on building durable businesses and compounding value over time.

What differentiates Adinah is not just the duration of our capital, but the intent behind it. We believe that long-term success is intrinsically linked to responsible stewardship. This means embedding strong governance, aligning incentives across stakeholders, and actively creating shared value for employees, partners, and the communities in which our businesses operate. In the South African context, this includes a deliberate focus on driving inclusive growth—expanding access to opportunity, enabling meaningful participation, and ensuring that value creation is broadly shared.

Our permanent capital structure allows us to think and act like true owners. We are not driven by short-term market cycles or the need to realise investments within predefined periods. Instead, we are focused on building enduring businesses that can thrive across generations. This long-term alignment fosters deeper partnerships, better decision-making, and ultimately, more sustainable outcomes.

At Adinah, capital is not transient – it is committed. We invest with conviction, partner with purpose, and build for the long term.

If you are interested in investing in the Adinah Permanent Capital vehicle, please contact us to learn more about our strategy, structure, and partnership approach.

If you are interested in investing in the Adinah Permanent Capital vehicle, please contact us to learn more about our strategy, structure, and partnership approach.

Risk Profile: MED-HIGH

Time Horizon: 5 YRS+

Suitable Investors: High net worth individuals, local trusts and companies

Target return: 20% p.a.

Minimum Investment c. R500 000

Maximum Investment: No Maximum

Manager Adinah Capital Partners