As part of the group’s strategic plan to expand beyond South Africa into key market in the whole of the continent and to increase its assets under management to US$7.4 billion, Old Mutual Investment Group is seeking to invest between R250 million and R500 million (US$18 million – US$37 million) to acquire properties in east and west Africa.

 

Using the footprint of its parent company, Old Mutual, Old Mutual Investment Group CEO, Diane Radley states that the fund will target existing commercial and agricultural properties rather than venture into developing properties. The agricultural investments are made through Old Mutual asset management affiliate, Futuregrowth.

 

“The other area we have been actively investing in is South African as well as African agricultural funds through Futuregrowth,” said Ms. Radley. “The story around agriculture is a very compelling one and we do believe agriculture has a very massive investment opportunity. We are looking to raise almost R3bn (US$223 million) just in agricultural funds in the next two to three years,” adding that the funds will be raised from both local and international third party investors.