British International Investment

Actis Africa Real Estate Fund 3

AfricaCameroonCote d'IvoireEast AfricaKenyaMoroccoNigeriaAfricaCentral AfricaEast AfricaNorth AfricaWest AfricaConstruction and real estate

The Actis Africa Real Estate Fund 3 (ARE3) is the largest private real estate fund targeting sub-Saharan Africa raised in the market to date.  Its predecessor funds are ARE1 and ARE2. The latter, which closed in 2012, raised $278 million. CDC played an anchor role in both predecessor funds.

Investments made by BII into this fund:

Investment name Commitment Region Sector Start date Status
Investment 01 $50m Africa, Central Africa, East Africa, North Africa, West Africa Construction and real estate August 2015 Active
Investment 02 $15m Africa, Central Africa, East Africa, North Africa, West Africa Construction and real estate January 2016 Active

Investments made by this fund into companies:

Investment name Country Region Sector Start date Status
Douala Retail Cameroon Central Africa Construction and real estate December 2015 Active
Garden City Business Park Kenya East Africa Construction and real estate July 2015 Active
ImpAct Africa Africa Construction and real estate September 2017 Active
Itura Nigeria West Africa Construction and real estate August 2018 Active
Itura – RB Kenya East Africa Construction and real estate March 2022 Active
Itura SC Morocco Morocco North Africa Construction and real estate December 2019 Active
Itura-Hornet East Africa Africa Construction and real estate June 2022 Active
Prism Kenya East Africa Construction and real estate March 2019 Exited
Project Arrow Nigeria West Africa Construction and real estate February 2017 Exited
Renaissance Plaza Cote d'Ivoire West Africa Construction and real estate December 2018 Active
Twin Lakes Mall Nigeria West Africa Construction and real estate July 2015 Active
Washington Nigeria West Africa Construction and real estate February 2020 Active

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