Government Employees Pension Fund

The Government Employees Pension Fund (GEPF) is Africa's largest pension fund, managing the retirement benefits of over 1.2 million active members and more than 450,000 pensioners from the South African government. Established in 1996, the fund operates as a defined benefit fund and manages a massive portfolio of assets across various sectors, including significant holdings in the healthcare and pharmaceutical industries. While not a life sciences company itself, the GEPF is a major institutional investor in South African healthcare giants such as Aspen Pharmacare and Netcare through its investment manager, the Public Investment Corporation (PIC). The fund plays a critical role in the South African economy and the broader African investment landscape by providing essential capital for infrastructure and corporate growth. Its investment decisions are increasingly guided by environmental, social, and governance (ESG) principles, influencing the development of the regional medical and social services sectors.