Investec Property Fund (IPF) has invested in and helped to launch Izandla Property Fund, a broad-based black economic empowered (BBBEE) group. Investec Property Fund is Izandla’s capital partner and Investec Property will help to manage the company. Izandla’s founders want the company to grow to be a separately listed entity that can compete with other listed property groups within a few years. This is the first time the Investec stable of companies has launched a BBBEE real estate group. While various property groups and listed real estate investment trusts have black professionals in their management and representation on boards, only a handful of blacks have launched their own property companies. Much of the talent has come from the financial services sector. Izandla’s majority shareholder is the Entrepreneurship Development Trust (EDT), a broad-based charitable trust. EDT will own 65% of Izandla and IPF will own 35%. Izandla’s board will include Sthembile Nkabinde, who founded K...

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