Momentum’s Africa Real Estate Fund has successfully raised $150m at its second close in August 2015. The Fund intends to focus on the development of retail, commercial and light industrial real estate in sub-Saharan Africa ex. South Africa. Warren Schultze, CEO of Eris Property Group, the fund’s investment advisors stated that they are currently reviewing projects in Mauritius, Ghana, Mozambique, Nigeria, Rwanda and Zambia.
The fund raised $50m in February 2015 and is planning to cap aggregate commitments at $250 million in July 2016 when the fund finally closes.