Novare Equity Partners  |
| FUND MANAGER DETAILS |
| Year Fund Started | Novare Africa Property Fund I - 2010; Novare Africa Property Fund II - 2014 |
| Type of Fund Manager | Independent |
| Regulatory License Number | FSB licence no 41836 |
| Total Number of Investments to Date | Novare Africa property Fund I - 4; Novare Africa Property Fund II - 6 |
| Number of Investment Executives | 8 |
| Principal Office Address | 5th Floor, The Cliffs Office Block 1, Niagara Way, Tyger Falls, Carl Cronje Drive, Bellville, 7530 |
| Key Contact Person and Designation | Benedict Mongalo |
| BEE Ownership | Majority black owned |
| Company Description | Given rising consumer spending by the increasingly affluent middle class in sub-Saharan Africa, the need for modern retail facilities far outstrips the current supply. Novare's experience and risk mitigating strategies in Africa assist in identifying and implementing sound development opportunities as well as navigating the renowned challenging landscape. |
| Telephone | 021 914 7730 |
| E-mail | derrick@novare.com |
| Website | www.novare.com and www.novareequitypartners.com |
| FUND DETAILS |
| Name of Fund | Novare Africa Property Fund I |
| Stage of Fund | Closed |
| Committed Capital of Fund | R974,226,660 |
| Fund Structure | Company |
| Nature of Fund | Specialist |
| Number of Portfolio Companies | 4 |
| INVESTMENT PREFERENCES |
| Minimum Investment | R69 million |
| Maximum Investment | R274 million |
| Average Current Investment Size | R231 million |
| Industry Preference | - Real Estate / Property
- Financial & Insurance
|
| Industry Excluded | |
| Investment Stage Preference | - Growth / Development Capital
|
| Investment Stage Excluded | |
| Minimum and Maximum Equity Usually Taken | 20% to 100% |
| Geographical Preferences | |