Acorn Holdings Limited (AHL) is jointly owned by Acorn Investments Limited (50%) and Accord Holdco (50%), owned respectively by the original shareholders of Acorn Group, one of Kenya’s leading property developers and project managers, and Helios Investment Partners Limited, one of the largest and most successful Africa focused private equity funds.
AHL marries its extensive local experience of successfully developing Kenya’s marquee properties and Helios’s expertise investing and developing in some of the continents “most successful brands”. Acorn continues to grow and reinvent itself in the local market, always seeking the most innovative and profitable ways to provide positive returns to its co-developers and shareholders. AHL has grown from a project manager, developer, investor, to an operator of purpose-built student accommodation (PBSA). This evolution adheres to AHL’s long track record of innovation in the local real estate market. Acorn Management Services Limited (AMSL), a wholly-owned subsidiary of AHL, is responsible for all project and property management and administrative services of the Group. AMSL has honed its expertise in property development and management establishing a specialized operating model that enables it to efficiently and successfully deliver on its mandate. AMSL’s operating platform is organized in 4 categories:
leads in the processes of the property development from land acquisition all the way to the completion of the properties.
leads the operational side of the business taking over the property at completion, stabilizing the properties post-development, and continuing their day to day operation.
These are the functions that are used across the group in finance, IT, HR, supply chain, and corporate affairs.
Helios was founded in 2004 to focus exclusively on private investment in Africa. Since its establishment, Helios has raised over USD 2.3 billion through three private equity funds. Helios’ diverse LP base comprises a broad range of the world’s leading investors, including sovereign wealth funds, corporate and public pension funds, endowments and foundations, funds of funds, family offices, and development finance institutions across the US, Europe, Asia, and Africa. Helios, through its 100% ownership in Accord Holdco Limited, has a 50% stake in AHL. Some of the current and previous equity stake investments Helios has made in Kenya include Equity Bank, Vivo Energy, Wananchi Group Holdings, and Telkom Kenya.
The partnership between Acorn Investments Limited and Helios is focused on the same core investment themes, seeking opportunities where there is a large growing market that addresses supply-side market deficiencies. This has coalesced into a strategy to build and operate profitable, high quality, and affordable student accommodation. Helios has committed USD100 million to AHL to provide the equity funding necessary to support the substantial development program.