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Eskom Pension & Provident Fund
The Eskom Pension & Provident Fund was established in 1932 to provide retirement benefits for employees of Eskom Holdings SOC Ltd, South Africa's...
Eskom Pension & Provident Fund
The Eskom Pension & Provident Fund was established in 1932 to provide retirement benefits for employees of Eskom Holdings SOC Ltd, South Africa's state-owned electricity utility. Shafeeq Abrahams serves as Chief Executive and Principal Officer, while Sonja Saunderson directs investment strategy as Chief Investment Officer — the fund remains self-administered from its headquarters in Johannesburg's Bryanston district. EPPF runs a multi-asset portfolio spanning real estate, infrastructure, private equity, and venture capital. Direct property holdings include the Equites Distribution Centre Joint Venture and student accommodation assets managed through Eris Property Group and Growthpoint Student Accommodation Holdings. The fund pursues venture exposure from seed to growth stage, with an allocation to fund-of-funds structures. It co-invests alongside partners like Equites Property Fund and extends its real-asset footprint into Kenya, Tanzania, and Ghana via sub-Saharan development projects. Total disclosed membership stands at approximately 85,000, comprising active employees, pensioners, and beneficiaries. EPPF commits to a net-zero portfolio by 2050 as a member of the Net-Zero Asset Owner Alliance and has been a UNPRI signatory since 2019. May 2025: The fund is marking its 75th anniversary with a declaration campaign, reinforcing its long-term sustainability agenda. EPPF's structural distinction lies in its dual identity as both a captive pension fund for a state monopoly and a direct institutional investor — it originates proprietary real-asset deals through co-investment joint ventures rather than relying solely on third-party managers, a posture uncommon among South African retirement funds of its scale.
General information
Firm type
Pension Fund
Year founded
1932
AUM
Undisclosed
Location
Region
Africa
Country
South Africa
City
Johannesburg
Corporate office
24 Georgian Crescent East, Bryanston East, Johannesburg, 2191, South Africa
Principals
Shafeeq Abrahams
Chief Executive and Principal Officer
Sonja Saunderson
Chief Investment Officer
Caroline Mary Henry
Chairman of the Board of Trustees
Sector focus
Frequently asked questions
Who runs investment decisions at the Eskom Pension & Provident Fund?
Sonja Saunderson serves as Chief Investment Officer, overseeing asset allocation across real estate, infrastructure, private equity, and venture capital. Shafeeq Abrahams, as Chief Executive and Principal Officer, holds ultimate accountability for fund strategy. The board of trustees, chaired by Caroline Mary Henry, provides governance oversight.
How is the fund connected to Eskom, the utility?
EPPF is the standalone pension fund for Eskom Holdings SOC Ltd — South Africa's state-owned electricity provider. Eskom established the fund in 1932 and remains its sponsoring employer. Despite this link, EPPF operates as an independent, self-administered legal entity with its own board of trustees.
Does EPPF invest directly or only through external managers?
It does both. EPPF holds direct real estate assets, including the Equites/EPPF Logistics Campus developed for DSV Solutions and student accommodation portfolios managed with Eris Property Group. It also participates in fund commitments and co-investment joint ventures, including a logistics partnership with Equites Property Fund.
What investment stages does EPPF target in venture capital?
The fund covers early-stage seed and startup investments through to expansion stage and growth equity. It also participates in venture fund-of-funds programs, secondary transactions, and mezzanine financing, giving it a full lifecycle exposure within private markets.
What sustainability commitments does EPPF maintain?
EPPF has been a signatory to the UN Principles for Responsible Investment since 2019 and joined the Net-Zero Asset Owner Alliance, committing to transition its portfolio to net-zero greenhouse gas emissions by 2050. It also adheres to South Africa's Code for Responsible Investing (CRISA).
Does EPPF run any philanthropic or community programs?
Yes. The fund operates the 'Caring Beyond Tomorrow' corporate social responsibility initiative and the Eskom Development Foundation. These are structurally separate from its investment operations but form part of the fund's broader stakeholder mandate.
Where does EPPF own real estate beyond South Africa?
EPPF's sub-Saharan Africa development portfolio includes mixed-use projects in Kenya, Tanzania, and Ghana. Its global property portfolio covers additional international exposure through managed vehicles.
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