Actis Concludes First Close of West Africa Focused Real Estate Fund at $45m

Kayode Tokede

Actis, a leading global investor in sustainable infrastructure has recently concluded a first close of its real estate fund, Actis West Africa Real Estate Income Fund Limited Partners (REIFLP) and Nigeria Real Estate Income Fund (NREIF) at $45 million.

Anchor investors in the first close included Stanbic IBTC Pensions Managers, FCMB Pensions Limited and Pensions Alliance Limited. 

The Fund will invest in market leading, stabilised real estate assets across West Africa, with a special emphasis on Nigeria. All assets in the portfolio will attain a minimum standard of IFC Edge certification. NREIF will acquire and manage real estate assets across a range of sectors, including retail, office, industrial, education and healthcare.

NREIF is the fourth vintage of Africa focused real estate funds managed by Actis. Actis has invested in the sector since 2004.

Funke Okubadejo leads Actis’ Pan African Income Fund team, while Tolu Sokenu serves as the Fund Manager for NREIF.

Actis and NREIF are advised by Simmons & Simmons and Udo Udoma & Belo-Osagie.

Actis is a leading global investor in sustainable infrastructure. It delivers competitive returns for institutional investors and measurable positive impact for countries, cities, and communities in which it operates. Its global experience, operational knowhow and strong culture allow them to create global sustainability leaders. It does  it at scale. And have been doing so for decades. Since inception, it has raised US $24 billion to invest in a better tomorrow.

Actis is a signatory to the United Nations backed Principles for Responsible Investment (UNPRI), an investor initiative developed by the UNEP FI and the UN Global Compact. The firm has consistently been awarded the highest rating score in the UN Principles for Responsible Investment (PRI) independent assessment.

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