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AGF Magazine - March 2019 issue

  • We focus on fixed income opportunities in both public and private markets. Read on to find in which fixed income instruments and in which African markets to invest on pp. 10-11. In addition, Ashley Benatar of Ashburton Investments shares his views on benefits and risks of investing in mezzanine debt on p.22.
  • We speak with Jérémie Ceyrac, Head of Equity, Responsible Investments at Proparco to learn more about the French development institution, financial products on offer, recent investments in Africa and African impact investment scene (pp. 13-15).
  • This month’s market feature focuses on Nigeria. Sven Richter, Fund Manager, Drakens Capital, writes about his recent trip to the West African country and his observations. “While Nigeria is attractive as an investment destination, the GDP growth is a disappointment for a county that we expect to be one of the leaders in Africa,” he says (pp. 16-17).
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News > Private Equity > PE Industry News

Taaleri to invest in real estate projects

Africa Global Funds
Dec. 9, 2016, midnight
448

Word count: 340

Taaleri, a Finnish private equity fund and financial services group, has announced plans to invest Sh10bn ($98m) in East and South African real estate projects, Business Daily reported.

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Taaleri, a Finnish private equity fund and financial services group, has announced plans to invest Sh10bn ($98m) in East and South African real estate projects, Business Daily reported.

Juhani Elomaa, Taaleri CEO, said: "East Africa is the area where we have been active. There are tremendous opportunities in the region. We started with about $50m with the first fund. We are going to raise new funds, double the first funds, by beginning of next year.” 

Taaleri, in partnership with local private equity firm Cytonn Investments, has so far invested about Sh4bn in the Kenyan real-estate market.

The two companies are exploring more investment opportunities in both real estate and renewable energy sectors.

Elomaa also announced the firm was considering venturing into regional green energy projects from early next year. 

The two firms have projects in Nairobi, Kiambu and Meru counties.

They invested Sh1bn in Amara Ridge, a high-end residential development in Karen, Nairobi.

Cytonn has also ventured into other areas including the fast-growing middle income town of Ruaka on the outskirts of Nairobi, where it is building 400 units in a gated community at Sh2.5bn.

The project is scheduled for completion within three years and targets middle- to lower-income earners looking for modern apartments.

In Meru town, it has partnered with Fusion Capital in the ongoing mixed-use development of Greenwood City mall.

Antti-Jussi Ahveninen, Taaleri's Head of Africa, said the Kenyan market is being driven by healthy fundamentals.

"In Kenya you will not run out of ordinary families who will need a good quality home, we are here to provide those homes," he said.

He believes the Real Estate Investment Trust (Reits) regulations serve the market well and are well structured by the Capital Markets Authority.

"This allows investors like us to come into the market and fund development projects because how we see it is that even when our money leaves and we exit the ownership of the property, it will stay here and the proprietor of the new property will create jobs for Kenyans," said Ahveninen.

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