Grene Capital Management Nigeria has announced the completion of a management buyout that will see the firm operate as an independent, Africa focused real asset fund manager, spun out from the growth market infrastructure investor, Actis.

Funke Okubadejo, Managing Partner and CEO of Grene Capital Management Nigeria, said: “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.”

Grene Capital was established to invest in stabilized, 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 $82m 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.

The transaction follows 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.

David Morley, Vice Chairman at Actis, 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.”

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 from the Securities and Exchange Commission of Nigeria and the Federal Competition and Consumer Protection Commission of Nigeria.