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Sign in Sign up for a FREE subscriptionActis completes first close of West African real estate fund
Actis has completed the first close of its real estate fund, Actis West Africa REIF (NREIF), with $45 million of commitments.
The group of anchor investors included Stanbic IBTC Pensions Managers, FCMB Pensions and Pensions Alliance.
Actis said the fund will invest in market-leading, stabilized real estate assets across West Africa, with a special emphasis on Nigeria. 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.
