Fusion Capital Announce Exit from Kenyan Athi River Residential Development

April 4, 2016

Kenyan private equity firm Fusion Capital have announced the exit from their ‘Graceland’ Athi River residential real estate development at a 2x return for their investors. The project had started in 2008 and Fusion Capital had provided the developer with financing of the KES600m project: ‘The investment involved an innovative equity-like structure, involving redemption linked to house sales. The bond was for a seven year period, but Fusion Capital has been able to exit two years early.’

It included the construction of ‘80 semi-detached houses and provision of amenities and landscaping in Athi River’, a rapidly growing satellite town near the capital Nairobi, for a middle class clientele. Source: Africa Assets