Seeing the potential for growth and investment in sub-Saharan Africa, RMB Westport developed the RMB Westport Real Estate Development Fund (known as the Fund) in order to realise the development of real estate assets in the region.
RMB Westport’s first Fund of US$250-million closed in August 2012 and is now fully committed. The success of this first fund has allowed the team to raise a second Fund (Fund II) that closed in February 2017 with US$275-million.
If you are interested in learning more about the RMB Westport Real Estate Development Fund, please don’t hesitate to contact us.
Alternatively, you can read more about the RMB Westport fund here.
The Fund is a public company incorporated in Mauritius as a Global Business Company (GBC) with a Category 1 Licence. It has been approved by the Mauritian Financial Services Commission, subject to conditions for a closed-end Professional Collective Investment Scheme (CIS) under the Collective Investment Scheme Regulations in Mauritius.
The Fund is managed by RMB Westport Property Investments Limited (the “Fund Manager”), a Mauritian company established by RMB Investments and Advisory (Proprietary) Limited (“RMBIA”), an affiliate of FirstRand Limited and Westport Property, each holding a 50% interest.
RMB Westport Property Investments Limited is incorporated in Mauritius and licensed and regulated by the Mauritius Financial Services Commission as a CIS Manager (license number: C110008668) RMB Westport Property Partners Limited is incorporated in Mauritius and licensed and regulated by the Mauritius Financial Services Commission as an Investment Adviser (Restricted) (license number: C110008669)
The information contained herein has been prepared solely for informational purposes and is not a solicitation to invest. The information herein does not constitute a recommendation or advice. The RMB Westport Real Estate Development Fund (“Fund”) has been approved by the Mauritius financial Services Commission (“MFSC”) to operate as a closed-end Professional Collective investment Scheme in terms of the Securities (Collective Investment Schemes and Closed-end Funds) Regulations 2008 issued under the Securities Act 2005. However, the MFSC will not vouch for the financial soundness of the Fund or for the correctness of any statements made or opinions expressed with regard to it.
The Fund is an Unregulated Collective Investment Scheme in the United Kingdom and accordingly cannot be marketed in the UK to the general public. It can therefore only be promoted to certain “professional” investors. Investors in the Fund will not have recourse to the Financial Ombudsman Service nor to the Financial Services Compensation Scheme in the UK.