Emerging market investor Actis has surpassed its $400 million (Sh40.4
billion) target for a new Africa-focused fund for real estate projects.
The firm said the new funds totaling more than $500 million (Sh50.5
billion) will be invested in prime retail, office and industrial
ventures in the capital cities of seven to eight sub-Saharan African
markets. Pension funds, sovereign wealth funds, development finance
institutions and endowments from Africa, Asia, Europe and North America
have helped to pool money. It is significantly larger than Actis Africa
Real Estate Fund 2, which closed in October 2012
with commitments of $278 million (Sh28.07 billion). “This successful
fundraising is a further sign of confidence from our investors,”
fundraising team leader David Morley said.
