Kasada Capital Management is set to leverage the investment capacity of its maiden fund Kasada Hospitality Fund with debt from two development finance institutions. The hospitality sector investment specialist has agreed a $160 million debt facility of which $80 million has been disbursed by International Finance Corporation and Proparco as a senior loan to finance the fund’s first transaction, the acquisition of a portfolio of eight hotels in West Africa at the very beginning of the year.
“This transaction is a game-changer to accelerate Kasada’s development and reinforce our ability to support the hospitality sector in Sub-Saharan Africa at this critical time in our industry,” said Olivier Granet, Kasada’s CEO and Managing Partner. “I would like to thank Société Générale for initially providing the bridge financing for the transaction and both IFC and Proparco for their commitment to providing a customized long-term financing solution.”
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