Kestrel Capital Enters New Era After 30 Years
Kestrel Capital Enters New Era After 30 Years
Management buyout marks new phase of growth for Kenya’s leading investment bank
Kestrel Capital East Africa Limited, one of Kenya’s top investment banks, has entered a new chapter after its acquisition by Theo Capital Holdings Ltd through a management buyout (MBO).
The transaction, the first of its kind in Kenya’s capital markets, was announced during Kestrel’s 30th anniversary celebration.
The buyout secures business stability and ensures continuity in leadership. Francis Mwangi will continue as CEO of Kestrel Capital, guiding its next phase of growth, while Eric Ruenji, Chairman of Theo Capital Holdings Ltd, will provide strategic direction.
“This acquisition is about conviction, opportunity, and belief in the power of markets,” said Mwangi. “We are proud to build on Kestrel’s strong legacy and expand access to investment opportunities.”
Ruenji added, “Theo Capital honors Kestrel’s three decades of excellence built on trust and professionalism. Our goal is to strengthen Africa’s capital markets while driving innovation and global connectivity.”
Kestrel Capital Enters New Era After 30 Years
Building on a Legacy of Market Leadership
Founded in 1994 by Charles Field Marsham, Kestrel Capital has established itself as a trusted name in Kenya’s capital markets. The firm pioneered company research and was the first broker to execute trades on the NSE’s Unquoted Securities Platform.
Kestrel has advised on more than 30 major corporate transactions, including equity raisings for KCB, DTB, and the Nairobi Securities Exchange IPO. It has also structured private placements such as a USD 60 million private equity trade and ARM’s USD 140 million investment.
Field Marsham reflected on the milestone, saying, “Kestrel has always been more than a business, it is a bridge connecting Kenya to global markets. I am confident Francis and the Theo Capital team will uphold its integrity and innovation.”
Under new ownership, Kestrel will remain committed to research, innovation, and customer service. The firm plans to leverage technology and partnerships to make investments more accessible and to strengthen Kenya’s capital markets.
As Kestrel celebrates 30 years of success, the management buyout signals a bold new beginning, one built on heritage, innovation, and growth.
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