PUBLIC INVESTMENT CORPORATION (PIC)

 

Public Investment Corporation SOC Ltd

Private Bag X187

Pretoria 0001

Republic of South Africa

 

 

 

CALL FOR APPOINTMENT OF AN UNLISTED INVESTMENTS INDEPENDENT EXPERT TO THE PUBLIC INVESTMENT CORPORATION’S INVESTMENT COMMITTEE – UNLISTED INVESTMENTS AND UNLISTED PROPERTY INVESTMENTS (IC-UI&UPI) FOR A TWENTY-FOUR (24) MONTHS FIXED TERM CONTRACT 

 

The Public Investment Corporation SOC Limited (PIC) was established in terms of the Public Investment Corporation Act, 2004 (Act No 23 of 2004) (the PIC Act), as amended, as a wholly State-Owned Company. The Minister of Finance is the sole shareholder representative on behalf of the South African Government. 

 

The PIC is a registered Financial Service Provider (FSP), licenced Category II FSP, in terms of the Financial Advisory and Intermediary Services Act, 2002 (Act No 37 of 2002) as amended. The primary purpose of the PIC is to invest certain monies received or held by, for or on behalf of the Government of the Republic of South Africa and certain bodies, councils, funds and accounts. As custodian of substantial assets generated by the labour of generations of South Africa’s public sector employees, the PIC has a responsibility to conduct its affairs with integrity, transparency and in an exemplary manner. The PIC work contributes to the well-being of present and future generations of pensioners, member beneficiaries and South Africans at large. 

 

The PIC manages a diversified portfolio to generate good financial returns for clients over a long period while supporting positive, long-term socio-economic development. 

 

The clients of the PIC are mainly pension, provident, social security and guardian funds. PIC’s mandate is to invest funds on behalf of these clients, based on investment mandates agreed with each client and approved and regulated by the Financial Sector Conduct Authority (FSCA). Among the PIC’s primary clients are the Government Employees Pension Fund (GEPF), the Unemployment Insurance Fund (UIF) and the Compensation Fund (CF). 

 

The PIC has a Board of Directors that govern and has overall accountability for the well-functioning of the company. The Board has established an IC-UI&UPI in line with Section 72 of the Companies Act, 2008 (Act No 73 of 2008), as amended; Section 7 of the PIC Act and Principle 6 of King V is also responsible for overseeing the implementation unlisted investment decisions, monitoring the performance of unlisted investments, and reporting on unlisted investment activities.

 

Report on Corporate Governance for South Africa, 2025. The IC-UI&UPI was established to assist the Board in discharging its statutory duties and responsibilities in relation to investment activities; consider and approve unlisted investment-related policies; unlisted investment proposals recommended by the Group Management Investment Committee –Unlisted Investments and Unlisted Property Investments (GMIC-UI&UPI) and make such recommendations as it considers appropriate to the Board in line with the applicable Delegation of Authority Framework. The IC-UI&UPI is also responsible for overseeing the implementation unlisted investment decisions, monitoring the performance of unlisted investments, and reporting on unlisted investment activities.

In line with the IC-UI&UPI Terms of Reference, the PIC seeks to appoint an Unlisted Investments Independent Expert for a period of 24months to enrich the IC-UI&UPI’s skills and, therefore, invites qualified, experienced, competent, and interested individuals to submit a comprehensive curriculum vitae with a cover letter for consideration to be appointed as an Unlisted Investment Independent Expert to the IC-UI&UPI.

 

The key responsibilities of the successful individuals will include, but are not limited to: 

•Contribute to the unlisted investment and management expertise of the IC-UI&UPI by providing independent technical, commercial and financial input to assist members of the IC-UI&UPI to enable decision-making regarding unlisted investments; and 

•Provide, as and when required, input regarding unlisted investments trends and developments within the sector industry to enhance members ‘decision-making process.

 

Individuals interested to be appointed as an Unlisted Investments Independent Expert must have integrity, demonstrate ethical behaviour and meet a combination of the following criteria:

•At least 10 years’ experience in investment analysis, asset manager selection, and pension fund investments in respect of either unlisted investments, at least 5of which were at a senior evel

•Possesses a qualification (Honours ‘or Masters ‘Degree) in investment analysis, actuarial science or similar financial discipline, further academic or professional qualification preferred

•Experience in serving on investment or credit committees, with a particular focus on skills related to empathy and mentoring investment teams

•Technical and/or operational expertise in social/economic infrastructure investments, venture capital, and asset classes within the PIC unlisted investment portfolio

•Asset management experience in South Africa, Rest of Africa, and internationally

•Critical evaluation of unlisted investment proposals

•Honesty and willingness to demonstrate independent thinking from group positions in a constructive manner, and lack of conflicts of interests

•Be committed to the PIC’s vision, mission and values

• Not be disqualified to be appointed as a Director or Trustee 

 

The submissions must be emailed to the following email address: Unlistedindependentexpert@pic.gov.za

 

or posted to the PIC offices and marked for the attention of: 

Company Secretariat 

Public Investment Corporation 

Private Bag X187 

PRETORIA, 0001 

 

Closing date for submission of CVs: 12 June 2026 

 

Written enquiries can be sent via email to Unlistedindependentexpert@pic.gov.za

 

By submitting your application for consideration as an Independent Expert, you are granting the PIC consent to process your personal information in accordance with the Protection of Personal Information Act, 4 of 2013 as amended. Applicants will be subjected to a vetting process to ensure that candidates shortlisted for consideration have integrity, are honest, ethical, appropriately qualified, skilled, and experienced. 

 

Correspondence on the outcome of the appointment process shall be limited to the successful candidates. 

 

The PIC is an equal opportunity employer with an objective to include 50% women and 5% people with disabilities to its governance structures. Preference will be given to South African citizens.

 

 

 

 

 

 

 

 

 

 

CALL FOR APPOINTMENT OF UNLISTED PROPERTY INVESTMENTS INDEPENDENT EXPERT(S) TO THE PUBLIC INVESTMENT CORPORATION’S INVESTMENT COMMITTEE – UNLISTED INVESTMENTS AND UNLISTED PROPERTY INVESTMENTS (IC-UI&UPI) FOR A TWENTY-FOUR (24) MONTHS FIXED TERM CONTRACT 

 

The Public Investment Corporation SOC Limited (PIC) was established in terms of the Public Investment Corporation Act, 2004 (Act No 23 of 2004) (the PIC Act), as amended, as a wholly State-Owned Company. The Minister of Finance is the sole shareholder representative on behalf of the South African Government. 

 

The PIC is a registered Financial Service Provider (FSP), licenced Category II FSP, in terms of the Financial Advisory and Intermediary Services Act, 2002 (Act No 37 of 2002) as amended. The primary purpose of the PIC is to invest certain monies received or held by, for or on behalf of the Government of the Republic of South Africa and certain bodies, councils, funds and accounts. As custodian of substantial assets generated by the labour of generations of South Africa’s public sector employees, the PIC has a responsibility to conduct its affairs with integrity, transparency and in an exemplary manner. The PIC work contributes to the well-being of present and future generations of pensioners, member beneficiaries and South Africans at large. 

 

The PIC manages a diversified portfolio to generate good financial returns for clients over a long period while supporting positive, long-term socio-economic development. 

The clients of the PIC are mainly pension, provident, social security and guardian funds. PIC’s mandate is to invest funds on behalf of these clients, based on investment mandates agreed with each client and approved and regulated by the Financial Sector Conduct Authority (FSCA). Among the PIC’s primary clients are the Government Employees Pension Fund (GEPF), the Unemployment Insurance Fund (UIF) and the Compensation Fund (CF). 

 

The PIC has a Board of Directors that govern and has overall accountability for the well-functioning of the company. The Board has established an IC-UI&UPI in line with Section 72 of the Companies Act, 2008 (Act No 73 of 2008), as amended; Section 7 of the PIC Act and Principle 6 of King V Report on Corporate Governance for South Africa, 2025. The IC-UI&UPI was established to assist the Board in discharging its statutory duties and responsibilities in relation to investment activities; consider and approve property investment-related policies; property investment proposals recommended by the Group Management Investment Committee – Unlisted Investments and Unlisted Property Investments (GMIC- UI&UPI) and make such recommendations as it considers appropriate to the Board in line with the applicable Delegation of Authority Framework. The IC-UI&UPI is also responsible for overseeing the implementation of investment decisions, monitoring the performance of unlisted property investments, and reporting on property investment activities. 

In line with the IC-UI&UPI Terms of Reference, the PIC seeks to appoint Unlisted Property Investments Independent Expert (s) for a period of 24 months to enrich the IC-UI&UPI’s skills and, therefore, invites qualified, experienced, competent, and interested individuals to submit a comprehensive curriculum vitae with a cover letter for consideration to be appointed as Unlisted Property Investments Independent Expert (s) to the IC-UI&UPI. 

The key responsibilities of the successful individuals will include, but are not limited to: 

• Contribute to the property investment and property management expertise of the IC-UI&UPI by providing independent technical, commercial and financial input to assist members of the IC-UI&UPI to enable decision-making regarding property investments; and 

• Provide, as and when required, input regarding property trends and developments within the property sector or industry to enhance members’ decision-making process. 

 

Individuals interested to be appointed as Unlisted Property Investments Independent Expert must have integrity, demonstrate ethical behaviour and meet a combination of the following criteria:

 

Key Competencies

• At least 10 years’ experience in real estate investments, property development, social and economic infrastructure, and/or asset management, and pension fund investments in respect of property investments, at least 5 of which were at a senior level

• Experience in serving on investment, social and economic infrastructure committees, with a particular focus on skills related to empathy and mentoring investment teams 

• Proven experience in unlisted real estate debt and equity transaction structures 

• Technical and/or operational understanding of the real estate asset classes within which the PIC invests in 

• Asset Management experience in South Africa, rest of Africa and internationally

• Consultancy and/or advisory experience on Investment Committees / Board committees/Advisory Boards 

• Critical evaluation of real estate investment proposals 

• Value-adding attitude 

• Honesty and willingness to express views in robust and constructive manner constructively 

• Commitment to the PIC’s vision and mission 

• Not be disqualified to be appointed as a Director or Trustee 

• Independence from PIC and lack of conflict of interests

 

Qualifications

• Honours/Master’s Degree in Real Estate, Property Development, Social and Economic Infrastructure, Commerce/Developmental Finance or Legal or equivalent relevant area of specialisation (MBA/MFI/Mcom/MSc, etc)

• Any relevant recognised professional qualifications such CA/CFA, etc

• Registered FSCA FAIS Representative is preferred

 

 

The submissions must be emailed to the following email address: Propertyindependentexpert@pic.gov.za

 

or posted to the PIC offices and marked for the attention of:

 

Company Secretariat

Public Investment Corporation

Private Bag X187

PRETORIA, 0001

Closing date for submission of CVs: 12 June 2026

 

Written enquiries can be sent via email to Propertyindependentexpert@pic.gov.za

 

By submitting your application for consideration as an Independent Expert, you are granting the PIC consent to process your personal information in accordance with the Protection of Personal Information Act, 4 of 2013 as amended. Applicants will be subjected to a vetting process to ensure that candidates shortlisted for consideration have integrity, are honest, ethical, appropriately qualified, skilled, and experienced.

Correspondence on the outcome of the appointment process shall be limited to the successful candidates.

The PIC is an equal opportunity employer with an objective to include 50% women and 5% people with disabilities to its governance structures. Preference will be given to South African citizens.