Cytonn Asset Managers to mobilize US$300m for funding new housing project

KENYA – Cytonn Asset Managers Limited (CAML), the regulated affiliate of Cytonn Investments Management PLC, is seeking to raise at least KSh30 billion (US$300m) to fund construction of 6000 mid to low income houses through its regulated scheme dubbed Cytonn High Yield Fund (CHYF).  The of launching ceremony of CHYF was graced by Mr. Charles Hinga, Principal Secretary, State Department for Housing and Urban Development.  He backed the fund saying that it is the right impetus needed to boost private sector investments to accelerate affordable housing project. He added that…

Read More

Cytonn to register a development investment trust to diversify real estate funding

KENYA – Cytonn Investment, an independent investments management firm has filed an application with the Capital Markets Authority (CMA), to register a Development Real Estate Investment Trust, (DREIT), seeking to raise KSh2billion (US$20m) of capital. The Investment Trust, which is structured to pay a coupon over the life of the development, will be deployed for the first phases of two of the firm’s real estate projects, The Ridge in Ridgeways, and RiverRun Estates in Ruiru. The capital raise is expected to assist Cytonn diversify funding sources for their real estate…

Read More