NSSF eyes private equity partnerships with Kuramo in portfolio shift

The National Social Security Fund (NSSF) is accelerating plans to diversify its investment portfolio, shifting focus from traditional asset classes toward strategies that balance return, risk, and long-term impact.

Speaking at a networking forum hosted by Kuramo Capital Management, NSSF Managing Trustee David Koros said private equity is increasingly becoming a priority for pension funds seeking stable, long-term returns.

The event convened pension funds, development finance institutions (DFIs), industry leaders, foundations, and family offices, underscoring growing interest in alternative investments across the region.

Koros revealed that NSSF’s current portfolio stands at approximately Ksh.5.7 billion, with an ambitious target of growing it to Ksh.1 trillion by next year, signaling an aggressive expansion strategy anchored on diversification.

Also in attendance was U.S. Embassy Chargé d’Affaires Susan Burns, who praised Kenya’s investment climate, noting its continued appeal as a hub for private equity and venture capital.

“Kenya has been a leading destination for private equity and venture capital in Africa over the past three years. This reflects the country’s dynamism, entrepreneurial spirit, and commitment to creating an environment where capital can thrive,” said Burns.

She added that Kuramo Capital exemplifies the kind of global investment partnerships the United States seeks to promote, particularly as it marks 250 years of independence under its “Freedom 250” campaign.

Kuramo Capital Co-CEO Shaka Kariuki reiterated the firm’s confidence in the Kenyan market, describing it as Africa’s top destination for capital.

“We remain very bullish on this market. Our investments span multiple sectors, with infrastructure and financial services at the top of the agenda. Kenya continues to offer strong opportunities for growth and value creation,” Kariuki said.

The forum highlighted a broader shift among institutional investors toward private equity as they seek to unlock higher yields and resilience in an evolving economic landscape.