Actis closes real estate fund at $45m

Actis, a top international investor in sustainable infrastructure, has completed a $45 million first close of two real estate funds, Actis West Africa Real Estate Income Fund Limited Partners (REIFLP) and Nigeria Real Estate Income Fund (NREIF).

Stanbic IBTC Pensions Managers, FCMB Pensions Limited, and Pensions Alliance Limited were anchor investors at the initial closing.

With a focus on Nigeria in particular, the Fund will invest in market-leading, stabilised real estate assets in West Africa. The portfolio’s assets will all achieve a minimum level of IFC Edge certification. Retail, office, industrial, educational, and healthcare facilities are just a few of the industries in which NREIF will buy and manage real estate assets.

The fourth vintage of Actis’ real estate funds with an emphasis on Africa is NREIF. Since 2004, Actis has made investments in the area. Actis’ Pan African Income Fund team is headed by Funke Okubadejo, and NREIF’s fund manager is Tolu Sokenu.

By Simmons & Simmons and Udo Udoma & Belo-Osagie, Actis and NREIF are counselled. Actis is a leading international investor in green infrastructure. It offers institutional investors competitive returns and has a demonstrable good influence on the nations, towns, and communities where it conducts business.

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