British International Investment

Actis Africa Real Estate Fund 3

AfricaCameroonCote d'IvoireEast AfricaKenyaMoroccoNigeriaAfricaCentral AfricaEast AfricaNorth AfricaWest AfricaConstruction & 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 Construction & Real estate August 2015 Active
Investment 02 $15m Construction & 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 & Real estate December 2015 Active
Garden City Business Park Kenya East Africa Construction & Real estate July 2015 Active
ImpAct Africa Africa Construction & Real estate September 2017 Active
Itura Nigeria West Africa Construction & Real estate August 2018 Active
Itura – RB Kenya East Africa Construction & Real estate March 2022 Active
Itura SC Morocco Morocco North Africa Construction & Real estate December 2019 Active
Itura-Hornet East Africa Africa Construction & Real estate June 2022 Active
Prism Kenya East Africa Construction & Real estate March 2019 Active
Project Arrow Nigeria West Africa Construction & Real estate February 2017 Exited
Renaissance Plaza Cote d'Ivoire West Africa Construction & Real estate December 2018 Active
Twin Lakes Mall Nigeria West Africa Construction & Real estate July 2015 Active
Washington Nigeria West Africa Construction & Real estate February 2020 Active

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