Investec Asset Management enters African real estate tie-up

Cape-Town-South-Africa-Table-Mountain-700x450.jpgInvestec Asset Management has entered into a joint venture to create a pan-African real estate investment business.

The asset manager has taken a 50 per cent stake in the business, alongside Growthpoint, South Africa’s largest real estate investment trust, and IFC, a member of the World Bank Group.

“We believe the African real estate markets are well positioned for a long-term growth phase given the significant supply deficit across the continent,” says John Green, head of the global client group at Investec Asset Management.

“We are excited about this unique partnership as it brings together our pan-African investment experience with Growthpoint’s industry-leading property investment expertise and IFC’s deep knowledge of the continent.”