January 6 2026 | Deals | Mergers and acquisitions | MEA | Private Equity
Karl Priessnitz has carved a niche in the competitive world of investment banking, focusing on real estate advisory at Investec Corporate Finance. In this excerpt from Ansarada’s 25 Iconic African DealMakers Report , Karl Priessnitz, Global Real Estate Advisory at Investec Corporate Finance, discusses his career in investment banking, the evolution of South Africa’s real estate sector and the future of dealmaking in a shifting economic landscape.
What initially drew you to corporate finance?
My role at Investec focuses exclusively on real estate advisory, but my initial interest in investment banking stemmed from its dynamic nature and the opportunity to work closely with influential figures in commerce.
When considering career options, I prioritized environments where I could gain knowledge quickly and work closely with senior executives. Corporate finance, particularly in investment banking, provided an accelerated career path that offered exposure to high-profile transactions and commercial leaders, both in South Africa and globally.
What guiding principles have helped you navigate such a competitive and complex industry?
Success and longevity in this field requires a commitment to continuous learning. Whether it involves understanding global investment themes, regulatory shifts, or deal structuring, staying at the forefront of industry developments is essential. Clients depend on advisors to provide informed, strategic guidance.
This requires not only technical expertise but also leveraging a global network to ensure that advice is aligned with best practices and current market trends. Remaining proactive and adaptable in an evolving financial landscape is critical.
Can you share a transaction or experience that significantly challenged you and influenced your approach to dealmaking?
One of the most complex and interesting engagements has been with Burstone Group, a company that originated from Investec Property. Its strategy has focused on international real estate investment, requiring a balance between global market trends and core real estate fundamentals.
A key challenge has been articulating this global expansion and capital light funds management strategy to a predominantly South African institutional shareholder base where comparable peers are not always readily available.
This underscores the importance of aligning strategic execution with investor expectations while navigating diverse market dynamics.
By staying informed on global investment trends, capital flows, and risk-return factors, we ensure that the company maintains a focused and well-structured approach to its expansion strategy. Over the last two decades, South Africa’s real estate sector has undergone significant shifts.
How would you characterize its evolution?
The sector has transformed considerably. In the early 2010s, there was a proliferation of listed REITs expanding into international markets including, UK, Australia and Eastern Europe, driven by a positive yield spread dynamics in this market and an increasingly competitive South African market.
At the time, the focus was on inorganic, high growth which shifted away from true real estate fundamentals. However, recent years have seen a shift toward simplification and operational fundamentals.
Companies are now prioritizing sustainable returns and transparent business models that investors can easily understand. With global interest rates easing and greater political stability in South Africa through the Government of National Unity (GNU), there is renewed interest in IPOs.
Institutional fund managers are increasingly open to discussing new market opportunities, which was not the case for several years. The primary areas of focus now include:
- Exploring new global jurisdictions that are underrepresented on the Johannesburg Stock Exchange (JSE).
- Identifying niche real estate subsectors, such as data centres and healthcare facilities, that could be suitable for public listing.
- Encouraging consolidation within the mid-cap REIT segment to enhance market efficiency. The real estate sector delivered close to 30% total returns last year, signalling a recovery from years of deep discounts to underlying valuations.
We are now transitioning toward a more stable and predictable environment, which is favourable for investors.
Has South Africa’s regulatory environment become more conducive to transformative M&A, or are there still significant challenges?
The regulatory landscape presents both opportunities and challenges. On the one hand, the JSE and Takeover Regulation Panel (TRP) have maintained high governance standards, which instil confidence among institutional investors. In recent years, efforts have been made to reduce red tape and improve transaction efficiency.
Regulatory engagement has become more pragmatic, with a focus on balancing compliance with facilitating deal execution. While we are not moving toward a less regulated environment, we are seeing a shift toward a more deal-proactive regulatory approach. This balance between oversight and efficiency is essential for fostering business confidence and attracting new investment.
What advice would you give to aspiring investment bankers entering the industry today?
Perseverance is key. Investment banking is a highly demanding field where success is built on practical experience. Regardless of whether one comes from an accounting, actuarial, or quantitative background, adaptability is essential.
The early years require managing multiple responsibilities, developing expertise on the job, and acquiring a broad skill set. With time and experience, individuals gain the ability to guide clients from the initiation of a transaction to its completion.
The industry is constantly evolving — the way deals were executed five years ago, or even five days ago, can change. A commitment to lifelong learning and a resilient, dynamic mindset are essential for long-term success.
