Helios Investment Partners has announced a KSh10 billion equity investment in Acorn Holdings group, in addition to the initial KSh3 billion loans it had already offered Acorn.
With this new investment, Acorn says it will combine proceeds from their green bond which raised a total of KSh4.3 billion in October last year, with another KSh2.6 billion from Helios, to build environmental friendly hostels for university students in Nairobi.
Therefore, as Business Daily reports, bondholders will fund 65% of the project whereas Helios will fund 35%.
Acorn Holdings has already built hostels in Ruaraka, Parklands and along Jogoo Road.
Helios Investment Partners is a private equity investing firm operating in Africa and based in London, United Kingdom, with additional offices in Nairobi and Lagos.
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