Funds | IHS Investments

Funds

IHS has raised over US$740 million (up to 2022) in capital and launched six multi-investor vehicles, one single-investor fund, and listed a publicly traded REIT:

South Africa Workforce Housing Fund (“SAWHF”) – our first multi-investor fund launched in 2008.
IHS Residential Partners – our first single-investor fund launched in 2013, focused on investments in middle-income residential properties in South Africa.
IHS Fund II SA – a multi-investor fund launched in 2014, focused on investments in South Africa with a target of delivering green housing.
IHS Fund II SSA – a multi-investor fund launched in 2014, focused on investments in Namibia and Botswana with a target of delivering green housing.
Transcend Residential Property Fund – a publicly traded REIT first listed on the AltX of the Johannesburg Stock Exchange (JSE) in 2016 and which migrated to the Main Board of the JSE in 2020.
IHS Kenya Green Affordable Housing Fund – our first multi-investor fund in Kenya launched in 2021.
IHS Affordable Green Housing Development Fund – a multi-investor fund launched in 2021 focused on investments in South Africa.
IHS Social Housing SA – our first company-structured vehicle established in 2022 with a focus on investments in social housing in South Africa.

SAWHF

South Africa Workforce Housing Fund (“SAWHF”) was a multi-investor fund that began operations in April 2008. SAWHF was fully invested, having raised US$154 million of LP capital from five different investors with an additional participating debt commitment of $80 million from the United States International Development Finance Corporation (“DFC“) (previously known as the Overseas Private Investment Corporation). Since its inception, SAWHF made 35 investments involving approximately 30,000 units of affordable for-sale and rental housing in South Africa. SAWHF successfully exited it from its last remaining investment in 2023.

IHS Residential Partners

International Housing Solutions Residential Partners Partnership (“IHS Residential Partners”), a single-investor fund with a large North American institutional investor targeted at the emerging middle class in South Africa, began operations in November 2013. IHS and its partner have contributed approximately $68.0 million to the venture, financing investments in seven different projects totaling just under 2,100 rental units and one undeveloped land project. The rental units were exited in 2018 and a development project for the land is being considered to begin in 2023.

Transcend Residential Property Fund

Transcend Residential Property Fund Limited (“Transcend”) is a REIT that was listed on the AltX of the Johannesburg Stock Exchange (JSE) in December 2016 and migrated to the Main Board of the JSE in 2020. The primary strategy of Transcend is to acquire multifamily residential properties, with a focus on housing opportunities that are affordable, lifestyle enhancing and located in well-situated and high growth urban areas of South Africa. At year-end 2022, Transcend owned a portfolio of 21 properties that have approximately 4,000 units. For further detail on Transcend, please visit: www.transcendproperty.co.za

IHS Fund II

IHS Fund II was formed for the purposes of investing in housing development projects in South Africa and other target countries in Sub-Saharan Africa. IHS Fund II SA and IHS Fund II SSA (collectively “IHS Fund II”) were established as two separate funds to allow investors to allocate their capital between investments in South Africa and in other countries in Sub-Saharan Africa.

IHS Fund II SA is a multi-investor fund targeting investments in affordable housing, including green housing projects, within South Africa. IHS Fund II SA began operations in July 2014 and at final close had raised approximately $123 million of LP capital from 11 investors. IHS Fund II SA also has an additional participating debt commitment from DFC for up to $80 million. IHS Fund II SA is fully committed and closed 31 investments that represent a total of 11,427 affordable for-sale and rental housing units in South Africa with over 9,000 of these units expected to meet the IFC EDGE green-certification on completion.
IHS Fund II SSA is a multi-investor fund targeting investments in affordable housing, including green housing projects, within Namibia and Botswana. IHS Fund II SSA began operations in July 2014 and had raised approximately $81 million of LP capital from six investors. IHS Fund II SSA is fully committed and closed 13 investments that represent a total of 3,942 affordable for-sale and rental housing units.

IHS Kenya Affordable Green Housing Fund

IHS Kenya Affordable Green Housing Fund (“IHS Kenya”) is a multi-investor fund formed for the purpose of investing in green affordable housing development projects in Kenya. The Fund achieved first-close in June 2021 having raised approximately $85 million of LP capital from four investors and with further capital raising under way towards a target of around $180 million. The Fund will focus in Kenya, initially within the Nairobi Metropolitan Region and shall expand to other counties depending on demand. A minimum of 15% of the Funds committed capital shall target areas outside of Nairobi.

SFDR Level 2 Disclosures

IHS Social Housing SA Proprietary Limited

IHS Social Housing SA (“Social Housing Company”) is a multi-investor company established for the sole purpose of investing in green social housing development projects in South Africa. The company was seeded with approximately US$31 million of capital and with further capital raising underway towards a target of around US$100 million.

Social Housing in South Africa is regulated by the Social Housing Regulatory Authority (SHRA) and is aimed at providing affordable housing to qualifying households which earn between ZAR1,600 and ZAR22,000 per month. The aim of the Social Housing Company is to deliver approximately 7,000 units across 10 properties over a seven-year period with the eventual exit in the form of a REIT listing of the company or recapitalization as an unlisted REIT.