TUTU AGYARE

$110 Million

MANAGING PARTNER, NUBUKE INVESTMENTS

Age: 51

Wealth: SELF MADE, HEDGE FUND

Education: UNIVERSITY OF GHANA, BACHELOR’S DEGREE, MATHEMATICS & COMPUTING

Known For: NUBUKE INVESTMENTS, UBS INVESTMENT BANK

OVERVIEW

Tutu Agyare is the straight-talking Ghanaian who “baptised” the floor of the London Stock Exchange by being the first African to trade on it in his early 20s. He later pursued a successful career at UBS Investment Bank for two decades, where he became head of Europe, Middle East and African (EMEA) investment between 2001 and 2007. He has over 20 years’ experience in proprietary trading, investment banking, derivatives trading and business management. In 2007 he set up Nubuke Investments.

Tutu Agyare is currently Managing Partner and Chief Investment Officer for Nubuke Investments, an Africa focused Hedge Fund domicile in the United Kingdom and solely focused on African investment opportunities. Today, he is a much sought-after business leader and investor.

Tutu’s experience extends to the arts as well; he is a director of the Nubuke Foundation, a Ghanaian-based cultural and educational foundation and also the co-chair of the African Acquisition Committee at the Tate Modern Museum in London.

NET WORTH SUMMARY

Nubuke Investments LLP was founded in 2007 and has its registered office in London. Nubuke Investments LLP oversees the company’s Nubuke Africa Multi Strategy Fund, an African focused hedge fund which returned 81.1% terms in May 2014 since its inception in 2008. Nubuke Investment’s annual turnover is £6.5 million or more. The sole function of the LLP is to act as the sub-manager of a hedge fund incorporated in the Cayman Islands as Nubuke Africa Multi Strategy Master Fund Limited and run by Nubuke Africa Multi Strategy Fund Limited, a company also incorporated in the Cayman Islands.

The fund had one of its best performance in 2012 returning 8.29%, followed by a dip of -5.09% in June 2012, which Tutu says was due to volatility associated with a few positions. The fund launched in June 2008 and, after several negative months during the global financial crisis, returned a net 85% in 2009 by taking advantage of distressed prices in the African Eurobond market. It gained 19.65% in 2010 followed by an 11.7% contraction in 2011 as most African markets were far into the red. The fund’s main investors are European and US institutions and Tutu Agyare has seen increased interest from US investors.

The Nubuke Africa Multi Strategy Fund, with US$35 million in assets under management, focuses on Kenya, Nigeria and Ghana for investment returns, Tutu aims to grow the fund to between US$250 million and US$500 million. In Nigeria, the fund has investments in the financial sector, fast moving consumer goods and industrial companies.

Tutu became the first African to serve on the board of Tullow Oil which is an FTSE listed company.

Visibility Ratings: A