Actis gets over $500M for African fund

Actis, a top growth markets investor, has raised some money for an African fund.

The company released a statement, highlighting the purpose of the fund.

"ARE3 will invest predominantly in prime retail, office and industrial developments in the capital cities of 7 – 8 sub-Saharan African markets. Over the past decade, the team has invested in assets valued at $1.4 billion on a gross asset value basis.

The team is led by David Morley and includes two other partners, Amanda Jean-Baptiste and Louis Deppe and 11 other investment professionals across offices in

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David Morley, a director, said: “This successful fundraising is a further sign of confidence from our investors in our ability to identify the most compelling opportunities across Africa. With this new vehicle, they will satisfy part of the demand for institutional quality real estate in some of the fastest growing cities globally.”