PIC Investment Chief Exits South Africa’s Top Fund

Public Investment Corp., Africa’s largest money manager, and Chief Investment Officer Kabelo Rikhotso have agreed to terminate their employment relationship on an amicable basis, five months after he was suspended following misconduct allegations in a whistleblower report.

The firm will continue to seek a final interdict to affirm there was no evidence supporting allegations previously brought against Rikhotso and Lindiwe Dlamini, its head of investment legal, Pretoria-based PIC said in a statement Sunday.