South African Vantage Capital has purchased an Sh800 million (approx 8M USD) stake in the Rosslyn Riviera Shopping Mall that sits on a 4.5 acres in Nairobi. The fund is investing $8 million for its seventh deal for its third fund, the $280 million Vantage Capital III. Vantage Capital associate partner Mokgome Mogoba said his firm was attracted to the mall due to its location within an affluent suburb, and high-end tenants that gave it the right characteristics for an investment. Rosslyn Riviera is a convenient neighbourhood shopping mall in the upmarket suburb of Rosslyn/Runda in Nairobi that officially opened for trading in 2017

Rosslyn Riviera Mall, Nairobi
Rosslyn Riviera Mall, Nairobi

“Rosslyn Riviera is a state of the art shopping mall, developed to extremely high standards, with all the right characteristics we consider befitting the only modern neighbourhood mall in Kenya. It is located in a prime affluent area in the city of Nairobi. Direct access to a major highway provides the tenants with excellent visibility including abundant conveniently accessible parking for their customers. The mall has managed to attract high quality tenants such as Chandarana Supermarkets, Java House, News Café and Nairobi Hospital and is led by a very competent management team. This investment in a leading retail property development in the heart of Nairobi demonstrates Vantage Capital’s commitment to Kenya and the East African region as a whole.” he said.

Mokgome Mogoba - Associate PartnerVantage Mezzanine
Mokgome Mogoba – Associate PartnerVantage Mezzanine

In operation since last year the mall offers customers over 18,000 square metres of high-quality grocery and fashion shopping outlets as well as similar dining, health, wellness and entertainment establishments.

“Kenya has always been of strategic importance for Vantage, and therefore we are pleased with our 1st transaction in the country and to be investing in a premium asset such as Rosslyn Riviera.  Peter Gethi and his entire team have done an exceptional job developing the mall and we are extremely confident in their ability to further the future success of the project.”, Warren van der Merwe, Chief Operating Officer of Vantage Capital, added.

About Vantage Capital:

Vantage Capital Fund Managers (“VCFM”) has funds under management and investments of over R8.0 billion (over $500 million). VCFM was launched in 2001 with the Vantage Technology Fund which has invested R130 million ($19 million) in ten investments ranging from small start-ups, to larger established listed entities. The fund is now in the last phases of divestiture. It is one of Africa’s largest mezzanine fund manager.

Warren van der Merwe - Managing PartnerVantage Mezzanine
Warren van der Merwe – Managing PartnerVantage Mezzanine
Siyanda Khumale - Chief Financial Officer, Vantage Capital
Siyanda Khumale – Chief Financial Officer, Vantage Capital
Colin Rezek - Executive Chairman Vantage Mezzanine
Colin Rezek – Executive Chairman Vantage Mezzanine
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