Momentum Africa Real Estate Fund
Last updated 12 May 2020, by Impactyield.
Emerging countries (256) / Africa (127) / Eastern Africa (50) / Kenya (12)
The Fund will own and develop prime retail (i.e. shopping malls, office blocks and industrial buildings) real estate projects in targeted in Sub-Saharan African countries outside the CMA (Common Monetary Area known as South Africa, Lesotho, Swaziland).
The initial countries the Fund will focus on are: Nigeria, Ghana, Mozambique, Zambia and Kenya. The MMI Group has a business presence in all of these countries and familiarity with their tax, legal and regulatory environments, as do the individual team members.
The Fund’s objective is to achieve long-term capital appreciation by investing in real estate developments that have a good prospect for long-term growth. The Fund will focus on “value-adding” real estate transactions, being those transactions in which value creation is primarily achieved through the development or refurbishment, active management and positioning of assets, and not simply through tracking the broader real estate market. The property portfolio of the Fund will not be benchmarked to any index.
The Fund is seeking to raise a target fund size of US$250 million (two hundred and fifty million United States Dollars) in aggregate capital commitments from institutional, professional or sophisticated Investors The minimum investment per Investor is US$1 million (one million
United States Dollars). The Fund seeks to achieve a minimum internal rate of return (“IRR”) on its aggregate portfolio of 18-20% per annum in USD and a nominal return on capital invested of at least twice the amount invested by the Investor over the timeframe of the investment.
of track record
the year funded
Full employment and decent work with equal pay
Key performance indicators
Asset manager: The Momentum Group
Product track record: Fund has 8 years of track record
Target IRR: 18%
Committed Capital: 125,000,000 USD (US Dollar)
Target return category: Risk-adjusted market-rate of return
Fund domicile: Mauritius
Product status: Open - committed capital
Style/Stage: Development, Opportunistic
Inception year: 2015
Vintage year: 2015
Target region: Africa, Eastern Africa, Emerging countries, Kenya
Target close date: 01/01/2015
Product term: 8 years
Assets under management: 250,000,000 USD (US Dollar)
Investment size: Min: 5,000,000; Max: 87,000,000; Avg: 30,000,000
Co-investment policy: Only with LPs
Currency of investments: USD (US Dollar)
Currency for fund / product figures: USD (US Dollar)
Fund investments to date: 0
Fund investments to date exited or repaid: 0
Management fee: 1.75%
Carried interest: 20%
Hurdle rate: 10%%
GIIN Investors' Council Investment: No
Limited Partners / Investors: n.a.
Limited Partner / Investor Type: Family Office, Pension Funds, Other Institutional Investors
E-mail: firstname.lastname@example.org email@example.com
Phone number: 3474334114.00
If you wish to have your details removed from this database please email firstname.lastname@example.org
Head of Africa Investment Strategies at Momentum Global Investments Management
CEO - The Eris Property Group
Zee de Gersigny
Managing Director Momentum Africa Investments LLC
The development of real estate assets in Frontier Africa has many tangible positive impacts on the respective economies. These include: creation of jobs, transfer of skills, strengthening local supply chains, helping attract investment in the surrounding area, boosting activity in the formal sector, and provided better and more affordable goods.