# Telkom Retirement Fund

Telkom Retirement Fund is a Pension Fund based in Centurion, South Africa.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Centurion, South Africa
- **Region:** Africa
- **Address:** Centurion, South Africa
- **Founded:** 1995
- **Assets under management:** 2.3B (Altss estimate)
- **Website:** www.telkom.co.za
- **LinkedIn:** https://za.linkedin.com/company/telkom

## Regulatory record

- **Reports private funds:** No

## About

The Telkom Retirement Fund was established on 1 July 1995 to serve eligible employees of the South African telecommunications operator. Lavinia Khangala serves as chairperson of the board of trustees while Willem Myburgh acts as principal officer. The structure combines legacy defined benefit liabilities with a defined contribution section for post-2009 hires. The fund deploys capital across fixed income, listed equities, direct property and private equity. Holdings include South African government bonds and corporate debt valued at $921 million, a general property portfolio of $147 million, and an Africa equity book of $167 million. Confirmed commitments run to Sanari Capital Growth Fund, Heritage Capital Fund, AIH Capital Fund, Ditiro Fund I and 27four Black Business Growth Fund. Geographic exposure centers on South Africa with additional holdings in other African markets and global segregated mandates. Assets total $2.3 billion. The fund maintains a relationship with Altvest Wealth for investment advice and retains PwC as external auditor. It participates in the Association of Black Securities and Investment Professionals and the South African Venture Capital and Private Equity Association. In November 2023 the fund received the Asset Allocation to Black Fund Managers Award at the ABSIP Awards. The fund sits alongside the separate Telkom Foundation, whose board overlaps with fund trustees. Capital is deployed through limited partnership interests in South African private equity funds rather than direct operating control, creating a governance separation between pension assets and the sponsor employer.

## Sectors

- Private Equity
- Real Estate
- Fixed Income

## People

- Lavinia Khangala — Chairperson of the Board of Trustees
- Willem Myburgh — Principal Officer
- Warren Wheatley — Chairman of the Joint Investment Committee

## Questions

### Who runs investment decisions at Telkom Retirement Fund?

Lavinia Khangala chairs the board of trustees. Willem Myburgh serves as principal officer. Warren Wheatley chairs the joint investment committee.

### Does Telkom Retirement Fund participate in fund commitments or only direct deals?

The fund acts as a limited partner in South African private equity vehicles including Sanari Capital Growth Fund, Heritage Capital Fund and 27four Black Business Growth Fund.

### What asset classes does Telkom Retirement Fund hold?

Holdings include South African government bonds, corporate debt, listed equities on the JSE, commercial property in South Africa and international assets through segregated mandates.

### How is Telkom Retirement Fund related to Telkom Foundation?

Trustees of the retirement fund often serve on the board of the separate Telkom Foundation, which focuses on education and digital skills programs.

### What is Telkom Retirement Fund's known posture on co-investments alongside external GPs?

The fund commits to South African private equity funds and maintains an 80 percent stake in Rockland Targeted Investments for a Cape Metropole housing project.

### Which sectors does Telkom Retirement Fund explicitly avoid?

No explicit avoidance sectors are stated in available records.

## Related profiles

- [Barnet Local Government Pension Scheme](https://altss.com/profile/barnet-local-government-pension-scheme)
- [EPPI](https://altss.com/profile/eppi)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/telkom-retirement-fund

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