Burstone launches South Africa Core Plus fund platform with Nedbank Property Partners, recycling ZAR 4.5 billion capital
Bitget2026/09/28 06:30- Burstone set binding terms with Nedbank Property Partners to create a South African funds platform seeded with 14 assets worth ZAR 5.4 billion.
- Structure shifts Burstone into fund and asset manager, retaining a 50% stake while adding recurring fee income from management mandates.
- Deal brings in ZAR 677 million of third-party equity, releasing about ZAR 4.5 billion to cut leverage and fund redeployment.
- Reported LTV expected to drop to about 19% from 39.6%; third-party AUM rises 10.9% to ZAR 26.8 billion.
- Transition framework with Blackstone would terminate European management arrangements, freeing capital and resources for broader funds management.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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