Actis stays backstage as Grene Capital emerges Africa-focused fund manager

… new firm to continue US$82m Nigerian real estate fund management

Actis, the growth market infrastructure investor, now stays backstage as Grene Capital Management Nigeria Limited (Grene Capital) has emerged as an Africa-focused fund manager.

The emergence of Grene Capital followed the completion of a management buyout that will see it operate as an independent, Africa-focused real asset fund manager.

The new firm, spun out of Actis, will continue to manage the US$82 million Nigerian Real Estate Fund. It is also to continue the fund strategy, while assets and leadership remain unchanged, despite the transition to an Africa-focused firm

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 US$82 million in assets under management. The fund, raised primarily from Nigerian pension funds, has been 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.

“This transition strengthens our ability to operate as a fully independent Africa-focused real asset investment manager, while maintaining continuity for our investors and partners.

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,” Funke Okubadejo, managing partner/CEO of Grene Capital, assured investors.

She disclosed that 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,” she said.

David Morley, Vice Chairman at Actis, explained that 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.

According to him, Grene Capital’s operations, assets and investment approach remained unchanged, and they were supportive of a smooth transition as the business continues under independent ownership.

Grene Capital’s investment strategy continues to prioritise defensible, stabilised assets. Its mission is to mobilise institutional and private capital into resilient real assets, delivering enduring value for investors and sustainable growth for the markets served.

The transaction has received the required regulatory and LP approvals, including the Securities and Exchange Commission of Nigeria and the Federal Competition and Consumer Protection Commission of Nigeria.