Metier Exits South Africa-based Property Redeveloper and Manager South Point (Sub-Saharan Africa)

Source: Metier

Metier, a private equity and alternative asset management firm, has sold its stake in South Point, a South Africa-based company that redevelops distressed urban properties to provide accommodation to students and unemployed graduates. The Unemployment Insurance Fund, managed by South Africa’s Public Investment Corporation, acquired the company in June. Metier had originally invested in the company through the Lereko Metier Capital Growth Fund. Financial details of the transaction were not disclosed.