Actis marks first close for West Africa real estate private equity fund

 Actis marks first close for West Africa real estate private equity fund

Alternative asset management firm Actis has marked the first close of an Africa-focused real estate fund, Actis West Africa REIF LP, after garnering $45 million.

Anchor investors that helped the fund hit the first close included Stanbic IBTC Pensions Managers, FCMB Pensions and Pensions Alliance.

The new fund will invest in stabilised real estate assets across West Africa, with a special emphasis on Nigeria. It will acquire and manage real estate assets across a range of sectors, including retail, office, industrial, education and healthcare.

This is the fourth Africa-focused real estate fund managed by Actis. It has been investing in the sector since 2004.

This comes months after Actis said it raised $700 million for a new Asia fund that will make real estate investments in the region, including in India where it has previously set up two property development platforms.

The PE firm, which focuses on emerging markets but has been entering developed economies such as Japan, said the amount raised for the Actis Asia Real Estate 2 fund represents limited partner fund and co-investment commitments.

Additional co-investment opportunities are likely to deliver up to $1 billion of investable capital during the life of the fund, Actis said. The fundraise saw re-ups as well as new commitments from a range of high-quality and diversified global investors, it added.

This other fund focuses on Actis’ key markets of China, South Korea, India and Southeast Asia, predominantly Vietnam.

The real estate team at Actis is led by Brian Chinappi and comprises more than 30 investment professionals across the world.

Vivek Sinha

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