Chairperson

Mark Olivier (52) – Independent non-executive director
(British – based in Mauritius)
CA (SA)
Date of appointment: 28 June 2016

Listed company directorships: 3
Committee: Nomination

Mark has over 25 years’ experience in managing debt, property and private equity assets and providing corporate finance and strategic advice, predominantly to public companies in the United Kingdom. Prior to founding Hibridge Capital (a London-based boutique private equity and advisory business) in 2003, Mark was a shareholder and employee of Hawkpoint Partners, which was the management buy-out of NatWest Markets’ corporate finance business. Mark worked for BoE Ltd where he served on the executive committee of the group’s international business. Mark also worked at KPMG (London) as a manager. Mark is the chairperson of Trellidor, the physical barrier security business in South Africa, and is the chairperson of African Rainbow Capital Investments Limited, an investment holding company listed on the Main Board of the JSE, focused on investing in financial services businesses and acquiring majority or significant minority interests in non-financial services businesses. Mark was also the chairperson of a China-and-retail-focused real estate company managed by Blackstone Inc. and Macquarie Asset Management prior to its disposal. Since 2012 he has managed a private fund investing in affordable housing in central London.

Executive directors

Justin Muller (37) – Chief Executive Officer
(South African – based in the Netherlands)
CA (SA),
Date of appointment: 13 May 2019 (appointed as Chief Executive Officer on 13 July 2021)
Listed company directorships: 1

Justin completed his articles at FirstRand Bank Limited in 2008, whereafter he transferred to the Rand Merchant Bank Real Estate Investment Banking division. He spent two years as a real estate credit analyst and then three years as a real estate structured finance transactor, focusing on development finance and portfolio lending to the listed property sector. He joined Resilient REIT Limited in 2013 with an emphasis on acquisitions, transaction structuring and developments in Africa. In 2017, he joined Lighthouse as the head of transactions.

Jacobus “Kobus” van Biljon (44) – Chief Financial Officer
(South African – based in the Netherlands)
CA (SA), CFA, CAIA, CGMA & MSc Finance
Date of appointment: 16 August 2017
Listed company directorships: 1

Kobus commenced his career at KPMG in Johannesburg, completed his articles in 2003 and focused on the banking and real estate sectors. In 2006 he transferred to KPMG in New York City, where he spent several years as advisor and consultant to global real estate, private equity, and other alternate asset management firms. He joined Rockcastle in 2014, initially working on Zambian and Polish retail property investments. In March 2015, he joined the Resilient Africa team in Lagos, Nigeria, as chief financial officer. He joined Lighthouse in 2017.

Nina Kretzmann (44) – Chief Operating Officer
(South African – based in Mauritius)
BA (Law), LLB
Date of appointment: 5 February 2021
Listed company directorships: 1
Committee: Social and ethics

Nina joined Lighthouse Capital in February 2021. She is an admitted attorney and a member of the Law Society of South Africa and holds a BA (Law), LLB degree from the University of Stellenbosch. Nina has over 18 years’ diverse experience in corporate law and corporate finance. She relocated to Mauritius in August 2019 from South Africa.

Non-executive directors

Dave Axten (53) -Independent non executive director
(British/South African – Based in Mauritius)
BCom (Economics and Business Economics)
Date of appointment: 17 January 2019
Listed company directorships: 1
Committees: Remuneration, risk and social and ethics

David is an executive director of Axfin Holdings Ltd, a Mauritian company offering business development services to the financial services industry. David is a Mauritian resident having initially arrived in Mauritius with Rand Merchant Bank in 2000, and has spent 25 years operating in the financial and capital market.

Karen Bodenstein (39) – Independent non-executive director
(Mauritian)
BCom (Accounting Sciences)
Date of appointment: 27 September 2016
Listed company directorships: 1
Committees: Audit (chairperson), nomination and risk (chairperson) 

Karen is an accountant with over 16 years’ experience in financial reporting and oversight roles. She works as a consultant providing management and financial accounting services to global and domestic companies in Mauritius. She has exposure to directorships on listed companies on both the SEM and the JSE. She was an executive director of Rockcastle, where she was the chairperson of the risk and ethics committee and is currently the chief financial officer of African Rainbow Capital Investments Limited. She holds a BCompt (Accounting Sciences) degree from the University of South Africa and an Advanced Diploma in Management Accounting from the Chartered Institute of Management Accountants. Karen has been living in Mauritius since 2007.

Des de Beer (60) – Non-independent non-executive director
(South African)
BProc MAP
Date of appointment: 27 May 2020
Listed company directorships: 3
Committees: Investment and remuneration

Des has significant experience in property investment and management. He spent his early career in the banking industry in South Africa culminating in his appointment as General Manager, Corporate Equity, and member of the Executive Committee at Nedcor Investment Bank. Des was a founder of Resilient REIT Limited, a South African Real Estate Investment Trust, where he has served as chief executive officer since listing in 2002. He was also a founder of New Europe Property Investments plc and its successor NEPI Rockcastle plc. He served as a non-executive director of these companies and chaired the investment committees until May 2020. Des is currently a non-executive director of Hammerson plc, serving on its investment and disposal committee.

Paul Edwards (67) – Independent non-executive director
(British – based in Mauritius)
BSc and MBA
Date of appointment: 17 January 2019
Listed company directorships: 1
Committees: Audit, investment (chairman), nomination (chairman) and remuneration

Paul is executive chairperson of V2 and ZappGroup Limited and African mobile payments business and, Equilibre Bioenergy Production Limited, a bio-energy business. He is also a chairperson of Joint Aid Management, an NGO that operates across Africa. He is a former non-executive director and deputy of Cell C and Nasdaq listed NET1 UEPS Limited. In addition, Paul was a former executive chairperson of Emerging Markets Payments Holdings, chief executive officer of MTN Group, Africas largest mobile telecommunications operator, chief executive officer of M-NET DSTV, Johnnic Limited, and executive chairperson of Chartwell Capital.

Barry Stuhler (63) – Independent non-executive Director
(South African)
BCom, BAcc, CA(SA)
Date of appointment: 16 August 2017
Listed company directorships: 1
Committees: Audit, investment, nomination, remuneration (chairperson) and social and ethics (chairperson)

Barry is a chartered accountant who completed his articles with Arthur Young. Barry’s experience includes management of the Part Bond Scheme and Gilt Fund for Hill Samuel Merchant Bank. He was financial director of Integrated Property Resources and managing director of Intaprop Management Services, the property management company for the Intaprop group. In 1994, Barry cofounded Inline Properties, a property management and corporate property advisory company. Barry was a founding director of Resilient REIT Limited. In 2004, he became managing director of Property Fund Managers Limited (“PFM”), the asset manager of Capital Property Fund (“Capital”). He joined the Pangbourne Properties Limited (“Pangbourne”) board as executive director in 2007 and served as the managing director of the company from 2008 to 2015. After the merger with Pangbourne, Barry was reappointed as managing director of PFM. Subsequent to the merger between Capital and Fortress, Barry retired as an executive director.

Chairperson

Mark Olivier (52) – Independent non-executive director
(British – based in Mauritius)
CA (SA)
Date of appointment: 28 June 2016

Listed company directorships: 3
Committee: Nomination

Mark has over 25 years’ experience in managing debt, property and private equity assets and providing corporate finance and strategic advice, predominantly to public companies in the United Kingdom. Prior to founding Hibridge Capital (a London-based boutique private equity and advisory business) in 2003, Mark was a shareholder and employee of Hawkpoint Partners, which was the management buy-out of NatWest Markets’ corporate finance business. Mark worked for BoE Ltd where he served on the executive committee of the group’s international business. Mark also worked at KPMG (London) as a manager. Mark is the chairperson of Trellidor, the physical barrier security business in South Africa, and is the chairperson of African Rainbow Capital Investments Limited, an investment holding company listed on the Main Board of the JSE, focused on investing in financial services businesses and acquiring majority or significant minority interests in non-financial services businesses. Mark was also the chairperson of a China-and-retail-focused real estate company managed by Blackstone Inc. and Macquarie Asset Management prior to its disposal. Since 2012 he has managed a private fund investing in affordable housing in central London.

Executive directors

Justin Muller (37) – Chief Executive Officer
(South African – based in the Netherlands)
CA (SA),
Date of appointment: 13 May 2019 (appointed as Chief Executive Officer on 13 July 2021)
Listed company directorships: 1

Justin completed his articles at FirstRand Bank Limited in 2008, whereafter he transferred to the Rand Merchant Bank Real Estate Investment Banking division. He spent two years as a real estate credit analyst and then three years as a real estate structured finance transactor, focusing on development finance and portfolio lending to the listed property sector. He joined Resilient REIT Limited in 2013 with an emphasis on acquisitions, transaction structuring and developments in Africa. In 2017, he joined Lighthouse as the head of transactions.

Jacobus “Kobus” van Biljon (44) – Chief Financial Officer
(South African – based in the Netherlands)
CA (SA), CFA, CAIA, CGMA & MSc Finance
Date of appointment: 16 August 2017
Listed company directorships: 1

Kobus commenced his career at KPMG in Johannesburg, completed his articles in 2003 and focused on the banking and real estate sectors. In 2006, he transferred to KPMG in New York City, where he spent several years as advisor and consultant to global real estate, private equity, and other alternate asset management firms. He joined Rockcastle in 2014, initially working on Zambian and Polish retail property investments. In March 2015, he joined the Resilient Africa team in Lagos, Nigeria, as chief financial officer. He joined Lighthouse in 2017.

Nina Kretzmann (44) – Chief Operating Officer
(South African – based in Mauritius)
BA (Law), LLB
Date of appointment: 5 February 2021
Listed company directorships: 1
Committee: Social and ethics

Nina joined Lighthouse Capital in February 2021. She is an admitted attorney and a member of the Law Society of South Africa and holds a BA (Law), LLB degree from the University of Stellenbosch. Nina has over 18 years’ diverse experience in corporate law and corporate finance. She relocated to Mauritius in August 2019 from South Africa.

Non-executive directors

Dave Axten (53) -Independent non executive director
(British/South African – Based in Mauritius)
BCom (Economics and Business Economics)
Date of appointment: 17 January 2019
Listed company directorships: 1
Committees: Remuneration, risk and social and ethics

David is an executive director of Axfin Holdings Ltd, a Mauritian company offering business development services to the financial services industry. David is a Mauritian resident having initially arrived in Mauritius with Rand Merchant Bank in 2000, and has spent 25 years operating in the financial and capital market.

Karen Bodenstein (39) – Independent non-executive director
(Mauritian)
BCom (Accounting Sciences)
Date of appointment: 27 September 2016
Listed company directorships: 1
Committees: Audit (chairperson), nomination and risk (chairperson) 

Karen is an accountant with over 16 years’ experience in financial reporting and oversight roles. She works as a consultant providing management and financial accounting services to global and domestic companies in Mauritius. She has exposure to directorships on listed companies on both the SEM and the JSE. She was an executive director of Rockcastle, where she was the chairperson of the risk and ethics committee and is currently the chief financial officer of African Rainbow Capital Investments Limited. She holds a BCompt (Accounting Sciences) degree from the University of South Africa and an Advanced Diploma in Management Accounting from the Chartered Institute of Management Accountants. Karen has been living in Mauritius since 2007.

Des de Beer (60) – Non-independent non-executive director
(South African)
BProc MAP
Date of appointment: 27 May 2020
Listed company directorships: 3
Committees: Investment and remuneration

Des has significant experience in property investment and management. He spent his early career in the banking industry in South Africa culminating in his appointment as General Manager, Corporate Equity, and member of the Executive Committee at Nedcor Investment Bank. Des was a founder of Resilient REIT Limited, a South African Real Estate Investment Trust, where he has served as chief executive officer since listing in 2002. He was also a founder of New Europe Property Investments plc and its successor NEPI Rockcastle plc. He served as a non-executive director of these companies and chaired the investment committees until May 2020. Des is currently a non-executive director of Hammerson plc, serving on its investment and disposal committee.

Paul Edwards (67) – Independent non-executive director
(British – based in Mauritius)
BSc and MBA
Date of appointment: 17 January 2019
Listed company directorships: 1
Committees: Audit, investment (chairman), nomination (chairman) and remuneration

Paul is executive chairperson of V2 and ZappGroup Limited and African mobile payments business and, Equilibre Bioenergy Production Limited, a bio-energy business. He is also a chairperson of Joint Aid Management, an NGO that operates across Africa. He is a former non-executive director and deputy of Cell C and Nasdaq listed NET1 UEPS Limited. In addition, Paul was a former executive chairperson of Emerging Markets Payments Holdings, chief executive officer of MTN Group, Africas largest mobile telecommunications operator, chief executive officer of M-NET DSTV, Johnnic Limited, and executive chairperson of Chartwell Capital.

Barry Stuhler (63) – Independent non-executive Director
(South African)
BCom, BAcc, CA(SA)
Date of appointment: 16 August 2017
Listed company directorships: 1
Committees: Audit, investment, nomination, remuneration (chairperson) and social and ethics (chairperson)

Barry is a chartered accountant who completed his articles with Arthur Young. Barry’s experience includes management of the Part Bond Scheme and Gilt Fund for Hill Samuel Merchant Bank. He was financial director of Integrated Property Resources and managing director of Intaprop Management Services, the property management company for the Intaprop group. In 1994, Barry cofounded Inline Properties, a property management and corporate property advisory company. Barry was a founding director of Resilient REIT Limited. In 2004, he became managing director of Property Fund Managers Limited (“PFM”), the asset manager of Capital Property Fund (“Capital”). He joined the Pangbourne Properties Limited (“Pangbourne”) board as executive director in 2007 and served as the managing director of the company from 2008 to 2015. After the merger with Pangbourne, Barry was reappointed as managing director of PFM. Subsequent to the merger between Capital and Fortress, Barry retired as an executive director.