Actis raises $500m for African fund
Actis has raised $500 million for its third African real estate fund, Actis Africa Real Estate Fund 3.
The fund, which had an original equity fundraising target of $400 million, focuses on retail, office and industrial developments in the capital cities of sub-Saharan African markets.
Commitments came from pension funds, sovereign wealth funds, development finance institutions and endowments in Africa, Asia, Europe and North America.
Actis Africa Real Estate Fund 2, the fund’s predecessor, held a final close of $278 million in 2012, exceeding its $250 million fundraising goal.