Kasada Capital Management, a new investment platform dedicated to hospitality in sub-Saharan Africa, closed its first round of fundraising for Kasada Hospitality Fund LP with equity commitments of more than $ 500 million. This announcement follows the July 2018 press release by Katara Hospitality and Accor, which will contribute $ 350 million and $ 150 million, respectively. In a region with strong growth prospects, Kasada plans to build new hotels and renovate and acquire existing hotels (greenfield and brownfield).
The hospitality sector in sub-Saharan Africa is one of the most promising in a region that benefits from strong growth economies and an emerging middle class. It is, however, one of the least well served, with markets with high potential still largely unexploited.
A pioneer in sub-Saharan Africa, the Kasada Capital Management platform aims to create a link between local players in the hospitality market and international investors. The team is co-led by Olivier Granet (CEO & Managing Partner), previously Managing Director of AccorHotels Africa and Middle East, and David Damiba (CIO & Managing Partner), former Partner at Helios Investment Partners. Olivier Granet has more than 20 years of experience in the hospitality sector at Accor, where he recently oversaw a portfolio of more than 200 hotels with 50,000 rooms in 30 countries.
For his part, David Damiba has 25 years of experience in the financial sector, both in mature markets and African markets, particularly at Helios where he specialized in investment portfolios in structured loans with high potential for appreciation. . Olivier Granet and David Damiba will head a unique team bringing together expertise in the hospitality sector as well as in private equity and project finance with excellent knowledge of African markets.