South Africa: IFC proposes investment in real estate fund
The International Finance Corporation (IFC) has disclosed a proposed R150 million ($8.96 million) equity investment in Momentum Student Accommodation Impact Fund (MSAIF), an open-ended investment company developing and operating affordable, purpose-built student accommodation in South Africa. MSAIF is managed by Eris Property Group, a property developer and real estate fund manager in South Africa.
Eris is majority owned by MMI Holdings, South Africa’s third-largest long-term insurer.
MSAIF’s mandate is to invest exclusively in purpose-built student accommodation in South Africa and has a total committed capital target size of R2 billion (about $119.5 million).
Reach Africa’s private equity community by publishing a Showcase Article, Job Opportunity or Event on Africa Private Equity News. Contact us at editor@africaprivateequitynews.com for our rate card and more information.