Stuart MacKenzie


Stuart MacKenzie is a Partner and Head of Africa. He is a member of TRG’s Executive Committee and is based in Johannesburg, South Africa.

Prior to joining TRG in April 2023, Mr. MacKenzie was the Chief Executive Officer for Ethos Private Equity, which was acquired by TRG.

Mr. MacKenzie has been employed by Ethos since 1998 and became the CEO in 2014. Prior to taking on the role of CEO of the Firm, Stuart was responsible for the origination, execution oversight and realizations of numerous portfolio companies. This track record has given him broad experience across multiple industries, geographies and investment situations which underpin his deep expertise across the private equity value chain.

Since taking on the role of CEO of the Firm, Stuart has led a transformative strategic plan to transition the Firm from a single fund strategy, private equity manager, focused predominantly on South Africa to a multiproduct, alternative asset fund manager that manages four distinct fund programs and two permanent capital vehicles with investments throughout Africa.

Prior to joining Ethos, Stuart spent two years at JP Morgan Chase Bank NA. Mr. MacKenzie is a Chartered Accountant, CA(SA).