Introduction

Macro Driven

The markets we operate in exposes us to significant macro risk which cannot be diversified away. We therefore ensure that our portfolio construction is significantly balanced to mitigate sudden change in macro-economic variables such as exchange rates, interest rates and inflation. We try to incorporate our macro risk premium into our investment return expectation which allows us to better cope with sudden macro changes when they arise.

Data Driven

We do not invest in themes or concepts. To find opportunities we focus on proprietary ways to systematically collate, curate and analyse data. We rely systematically on our data evaluation process in making investment decisions.

Generalisation

We take a generalist approach to our investment and are usually style and sector agnostic. We think in terms of cashflows, expected return and the variability of that return. Not in terms of the assets producing those cash flows. This is why we invest across capital structure at different stages of a company growth cycle.

Market Inefficiency

We operate in markets with significant asymmetry and inefficiency. We believe there is a “knowledge advantage” that can be exploited by being local and approaching our investment process in unique ways.

Consistency

We focus more on the variability of our returns than our returns itself. Our objective is to generate consistent return and not oscillate between top and bottom quartile of investment performance.

Risk Control

We believe a relentless focus on risk management will lead to positive return outcomes. We place highest priority on preventing losses. We intervene early. We believe our investment performance is largely driven by the investment we chose not to make than investments we have in our portfolios.

Responsibility

We treat all our investors equally irrespective of the size of their investments with Zrosk. We aim to distribute information to all our investors at the same time.

Communication

We provide candid and timely communication of performance. Open and regular engagement with investors to ensure collective understanding of our challenges and opportunities.

Alignment of Interest

We Invest alongside our investors on the same terms. We have a skewed fee structure designed to capture performance – we only make money when our investors do. We also like our investors to be a part of our investment journey, we aim educate them on how we evaluate risks and rewards.

Collective Responsibility

Our success is driven by our ability to combine the resources of highly intelligent individuals and processes. We however believe that our whole is bigger than the sum of our parts. We believe the best way to harness the individual strengths of our teams is to ensure that responsibilities are collectively shared.

Mutual Respect

We believe the collective wisdom of a diverse group is an advantage which leads to better decisions. A culture of mutual respect is a key requirement for group to succeed where we openly and proactively share information. We therefore encourage the active listening and respect different views whilst encouraging honest and constructive feedback.

Meritocracy

We support an environment based on meritocracy. We want the best ideas to come from anyone irrespective of tenure, experience or corporate title. We value actions and contributions over longevity and/or corporate title. We aim to reduce to a minimum the damaging effect of corporate politics and unhealthy competition within the organisation.

Growth Mindset

In our quest to ensure we increase our odds in seeking universal truths we aim to foster a growth mindset environment in which we cultivate curiosity, aim to expand our circle of competence and reduce our knowledge gaps. Seeking truths means eliminating false narratives and widening our perspective. It also means not been over confident about our skills because no matter how hard we work; we can still be wrong. Our strategy is therefore to prepare for potential mistakes and analyse and learn from actual mistakes.

Jumoke Olatubosun

Compliance Lead

Olajumoke joined Zrosk Investment Management in 2018 and has responsibility for all regulatory compliance matters. Prior to joining ZIM, Jumoke was a practicing lawyer with over 5 years of experience in commercial litigation and corporate law practice. She was Junior Counsel at Loftyheights Legal then proceeded to Biyi Durojaiye & Co (BDC) as Counsel in Chambers where she handled over 25 cases of debt recovery for the Asset Management Corporation of Nigeria (AMCON). At BDC she was a core member of the compliance team. She gave notable advises to BDC’s predominately banking clients on regulatory compliance and a range of commercial matters.

Olajumoke is a member of the Nigerian Bar Association and a member of Certified Arbitrators and Mediators of Nigeria.

She is a graduate of Law from University of Ilorin, Kwara State, Nigeria. She also has a masters in International Commercial Law from Robert Gordon University, Aberdeen, United Kingdom.

Peter Moses

Research Lead

Peter Moses leads our proprietary research effort. He provides detailed macroeconomic, market analysis and conducts proprietary research on our alternative investments. Peter has over four years of experience in Investment Research. He started his career at Cordros Capital Limited. At Cordros, he was the lead macroeconomic analyst and primary analyst for the listed agricultural companies in Nigeria. He was also responsible for conducting Fixed Income research. Peter left Cordros to join Ecobank Transnational Incorporated (E.T.I) as an Energy Research Analyst. In that role, he conducted research on Sub-Saharan Africa’s (ex. South Africa) energy markets, including investment opportunities along the Oil & Gas, Power, and Renewables value chains. He also carried out equity research with a focus on listed Oil & Gas companies on the Nigerian Stock Exchange.

Peter is a first-class graduate of Economics from the Obafemi Awolowo University, where he received the Great Ife Alumni Certificate of Honour for academic excellence.

Olushola Adeniyi

Director

Shola is Director and Co-founder of ZIML. He is also the Chief Executive Officer of Krosk Partners Limited – a rapidly growing SEC registered inter-dealer broker in Nigeria. Shola started his career as a European High Yield credit trader at Barclays Capital UK. At Barclays he was responsible for market making of small European high yield issuers($100-$250m). Shola also had stint on the European Index trading team and was responsible for risk management and market making on off the run indices. He left Barclays to join BGC – a London based interdealer broker, At BGC Shola was focussed on the Sub Saharan Africa Fixed Income and Currency market. He left BGC and relocated to Lagos to found Krosk Partners Limited.

Shola graduated from University College London (UCL) with a first-class degree in Mechanical Engineering (M.eng). He has also successfully completed all three levels of the CFA examinations.

Damilola Adeniyi

Chief Financial Officer

Dami Adeniyi is Executive Director and Chief Financial Officer at ZIML. Prior to joining ZIML she was Finance Manager of Mane Contract Services – A UK based recruitment firm with over £30m in revenues. She has also had stints at reputable international law firm Kennedys Law and chartered accounting firm MohanRed & Co in the United Kingdom. She is a fully qualified member of the Association of Chartered Certified Accoutant (ACCA).

She graduated with a BSc in Business and Management from the University of Brunel, United Kingdom.

Sola Olowookere

Head of Clients & Product Management

Olusola Olowookere joined ZIML in 2018. He has responsibility for our Client and Product Management division. Mr Olowookere joins ZIML from Access Bank Plc. At Access he held the role of Banking Officer within the Corporate Banking and Global Markets Division. In this role he was responsible for handling of the banks mandate dynamics for big ticket transactions such as NMRC N20bn bond issuance, Gombe State government bond issuance etc.. He was part of the financial institutions team which was awarded the price for the most profitable unit at Access Bank in 2017.Mr Olowookere has also had stints at Guaranty Trust Bank where he has developed competence across all major sub-segment of the banking industry from branch/retail operation, commercial baking sales, corporate banking sales, Global Markets, Treasury, international trade and client relationship management.

Mr Olowookere is a graduate of Babcock University, Ogun State, Nigeria. He has a Bsc in Computer Information Systems and graduated with a second class (upper division).

AYE Trust Fund

AYE Trust Fund provides a platform for African entrepreneurs to build networks, access savings and loan products and access business support services.

For more information, visit //www.ayetrustfund.org/

Fibre

Fibre is providing affordable housing solution for modern day Nigerians.

For more information, visit //fibre.com/

Chiamaka Sowemimo

Director

Chiamaka is currently an Executive Director and Head of Investment Banking for West Africa at Exotix Capital, a leading global investment bank solely focused on developing markets.

Prior to that she was the Head of Equity Sales and also the VP spearheading the Equity Capital Markets business at FBN Capital, the investment banking subsidiary of FBNH, one of Nigerian’s largest banks. Chiamaka also spent seven years with Morgan Stanley London’s Global Capital Markets group focusing on equity financing transactions for Sub-Saharan Africa, the UK and Northern European clients. She has originated and executed a several private and public equity financing transactions across various jurisdictions for international and Nigerian corporations.

She has a Bachelor of Science (Hons) in Economics and Management from the University of Bristol and a postgraduate Diploma in Financial Strategy from Said Business School, University of Oxford.

Chiamaka’s extracurricular interests include reading, mentoring, venture building, theology and women’s affairs. She is a founder and lead facilitator of one of the Lean IN Lagos circles for professional women called SHEmerge.

PENAID

PENAID is a well being company targeted at the post retirement segment of the market.

For more information, visit //penaid.ng//

Ezwash

EzWash operates a chain of Laudromat in Lagos providing affordable self laundry services.

For more information, visit //ezwashndry.com/

Fitness Central

Fitness Central operate a chain of affordable fitness clubs in Nigeria. It mission is to provide high quality fitness experiences at affordable prices.

For more information, visit //fitnesscentral.ng/

Ditto Africa

Ditto Africa is a centralised mobile marketplace platform where global and local consumers can shop directly from a curated community of African Brands.

For more information, visit //www.dittoafrica.com//

Verifi

Verifi provides a digital payroll and employee benefit solution to the army of small and medium scale enterprises across Nigeria.

For more information, visit //verifi.ng/

Gartner Callaway

Gartner Callaway is championing sustainable agricultural practices in Africa.

For more information, visit //gartnercallaway.com/

MAX.NG

MAX.NG is transforming the 2 and 3 wheel mobility industry in Africa by combining technology and finance.

For more information, visit //max.ng/

Samson Esemuede, CFA

Managing Director.

Samson is Managing Director and Co-Founder of Zrosk IML. Samson has over a decade experience in Investment Banking and Global Markets. He started his career at Deutsche Bank in London. He was a member of the bank’s highly rated emerging markets equity franchise where he advised some of the world’s largest investment managers. He rose to the position of Vice President and left the company after 8+ years of active service. Samson then joined the Emerging market equity team at Citi Bank in London. At Citi he oversaw the Eastern European, Middle East and Africa (EEMEA) distribution efforts of the bank and helped issuers in this region raise over $10bn of equity capital. He was also part of the team which was ranked no 2 globally by institutional investors. The premier investor survey from emerging market investors management over $400bn of assets collectively. His experience around the difficulty of raising financing for African issuers due to the relative shallowness of the local capital markets informed his decision to co-found ZIML with similar likeminded investment professional.

Samson is a CFA charter holder and graduated from University College London (UCL) with a first-class degree in Biochemistry. He received the faculty of Life Sciences Deans Award for academic excellence – an award reserved for student who achieved distinctions in each year of their academic studies. Samson was also awarded the Federation of European Biochemical Society (FEBS) medal for the most outstanding final year research project at undergraduate level.

David Cunio

Director

David Cunio is CEO and Lead Portfolio Manager of Three Body Capital a recently formed innovative investment management company which has been set up to take advantage of non-linearity brought about by rapid change. Prior to co-founding Three Body, David spent over 14 years at Capricorn Fund Managers where he was responsible for the emerging market equity long/short portfolio. David brings to the board a wealth of investment management experience and knowledge across global emerging markets which will be of immense value to Zrosk Investment Management.

David is a Chartered Accountant (CA (SA)) and a Business Science Graduate from the University of Cape town.