Green Capital announces buyout from Actis
Grene Capital Management Nigeria Limited (Grene Capital) has announced the completion of a management buyout that will see it operate as an independent, Africa focused real asset fund manager, spun
Grene Capital Management Nigeria Limited (Grene Capital) has announced the completion of a management buyout that will see it operate as an independent, Africa focused real asset fund manager, spun out from the growth market infrastructure investor, Actis.
Grene Capital was established to invest in stabilised, institutional quality real estate; offering institutional investors steady predictable cash flows and a hedge against inflation.
The firm currently manages a closed-end real estate fund with approximately $82 million in assets under management. The fund, raised primarily from Nigerian pension funds, has invested in two institutional-quality assets: Jabi Lake Mall in Abuja and Heritage Place office building in Ikoyi, Lagos.
The existing leadership team has led the fund since its inception at Actis, and will continue to manage and expand the portfolio, supporting continuity in strategy, operations and investor commitments.
Managing Partner, Grene Capital Management Nigeria Limited, Funke Okubadejo said that the transition strengthened the company’s ability to operate as a fully independent Africa focused real asset investment manager while maintaining continuity for its investors and partners.
She said: “Our focus remains on disciplined asset selection, active asset management and delivering stable, inflation hedged cash flows and attractive risk adjusted returns from high-quality assets in key gateway cities in Nigeria and other parts of Africa”.
The transaction followed a strategic refocus of Actis’ real estate investment approach towards investments in Asia, and to digital infrastructure investments across Asia, Latin America and the Middle East. Actis remains active in the broader infrastructure and energy sectors in Africa”.
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Vice Chairman, Actis, David Morley, said ownership of the fund manager has transitioned to a highly experienced leadership team that has been responsible for the fund’s strategy and performance from the start.
“Grene Capital’s operations, assets and investment approach remain unchanged, and we are supportive of a smooth transition, as the business continues under independent ownership,” Morley said.
The transaction has received the required regulatory and LP approvals, including from the Securities and Exchange Commission (SEC) and the Federal Competition and Consumer Protection Commission of Nigeria.
