South Africa: New ALT Capital fund to back rural and township convenience retail centres
Johannesburg-based ALT Capital Partners has launched the Reimagine Social Impact Retail Fund 2.
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Johannesburg-based ALT Capital Partners has launched the Reimagine Social Impact Retail Fund 2. This follows the firm’s Fund 1, which has grown to 11 operational assets across seven provinces in South Africa.
The Reimagine Social Impact Retail Fund 2 will invest in convenience retail centres across rural, peri-urban and township communities. It is targeting a R2.5 billion (about $152.8 million) equity raise, with a 15% net IRR and a CPI +6% hurdle.
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