Momentum Africa Real Estate Fund


Last updated 12 May 2020, by Impactyield.

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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.

Financial description

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.

8 years

of track record


the year funded

250,000,000 USD


Asset manager

The Momentum Group


Headquarters location:

SDG goals

SDG targets

Full employment and decent work with equal pay

Key performance indicators

Fund overview

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:

Product status:

Style/Stage: ,

Inception year: 2015

Vintage year: 2015

Target region: , , ,

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:

Currency of investments:

Currency for fund / product figures:

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




Phone number: 3474334114.00

If you wish to have your details removed from this database please email

David Lashbrook

Head of Africa Investment Strategies at Momentum Global Investments Management

Warren Schultze

CEO - The Eris Property Group

Zee de Gersigny

Managing Director Momentum Africa Investments LLC

Impact Performance


Impact thesis

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.

Impact Management


Financial benchmark

Term Description:


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