Laurium Capital is an independent alternative asset manager that prides itself on creating long term wealth for its clients through unquestionable ethics and excellent absolute returns over time, within a clear risk management framework.

The Company was founded in 2008 by Murray Winckler, former CEO and head of research at Deutsche Bank South Africa, and long-time colleague Gavin Vorwerg, who was Deutsche’s deputy head of research.

Our Team

The Laurium Capital team consists of 12 investment professionals and 9 operations/finance staff.

It is based in Sandton, Johannesburg, which is the centre of South Africa’s industrial and banking community with ease of access to corporates in South Africa and other African countries. The team has an extensive network of relationships with business leaders in Sub-Saharan Africa.

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Our Investment Philosophy

Laurium Capital views Africa as the continent of opportunity and believe in the growing potential of Africa. With over 240 years collective professional investment management expertise, the team at Laurium Capital combines on-the-ground research and extensive local market knowledge to seek investment opportunities.

We believe that our skills in relative value stock selection, combined with disciplined portfolio construction and risk management process should deliver superior risk adjusted returns over time. All of our funds are underpinned by a common investment philosophy.

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Our Brand

Laurium (or Lavrio) is a small sea port town in the south-eastern part of Attica, Greece. Laurium Capital builds on the history of this Greek town from which it takes its name.

Famous in classical antiquity for silver mining, Laurium’s revenue generation grew to become an important source of wealth for the Athenian state, with Laurium silver becoming the foundation for Greek Coinage.

After the battle of Marathon in 490 BC, the Athenians invested the growing revenues from Laurium’s mines in an armada of 200 Triremes - the triple decked battleships of the day - creating the foundation of Athenian naval power and wealth. The resultant ‘Golden Era’ became the very basis of Western Civilisation.

Laurium Capital retains the same philosophy today, investing in opportunities here in Africa, which we believe is on the cusp of entering its own historic Golden Era. Just as the well informed Athenians saw competitive advantage in ancient warships so too the investment professionals at Laurium Capital search out long term wealth creation opportunities utilising sophisticated investment and hedge techniques.

Firm Philosophy and Core Values


Our reputation is built on unquestionable ethics and transparency.


Laurium Capital is a team of highly driven, exceptional individuals who have an absolute focus on achieving superior risk adjusted returns for our clients. All our investment analysts and portfolio managers have personal investments in the funds which ensure that our interests are closely aligned with those of our clients.


With a committed team and over 9 years of consistent superior performance under our belt, Laurium Capital is well positioned to harness the unique investment opportunities that Africa provides.


We seek out opportunities for our clients through strong detailed fundamental and financial analysis within a disciplined investment approach.