Milost Global Incorporated in conjunction with, Isilo Capital Partners (its African subsidiary) has acquired the entire stake in Primewaterview Holdings Nigeria Limited, at $1 billion.
Milost Global had last year provided a $5 million facility to Primewaterview, a subsidiary of Primewater holdings for various projects.
Primewaterview founder Adetunji Ogunwusi will step down as Chairman and Chief Executive Officer CEO, while Milost and Isilo will appoint a new management team
How Milost Global benefits
Primewaterview Holdings Nigeria Limited has several assets that are currently generating income. The company will also serve as Milost’s vehicle for acquisition of assets in Nigeri, and contribute $900 million to Milost’s annual funds from operations.
Funds from operations (FFO) refers to the figure used by real estate investment trusts (REITs) to define the cash flow from their operations. It is calculated by adding depreciation and amortization to earnings, subtracting any gains on sales, and is sometimes quoted on a per-share basis.
Milost Global, founded by Mandla J Gwandiso in 2015 is an American Private Equity firm that is headquartered in New York City, with more than $25 billion in committed capital. Milost is also a provider of alternative capital, mezzanine finance and alternative lending to a broad range of industries across the globe including Technology, Transport, Cannabis, Education, Distribution, Mining, Oil & Gas, Financial Services, Healthcare, Pharmaceuticals, Real Estate, Alternative Energy and Infrastructure Development
Isilo Capital Partners (ICP) is a fund management company, a South African based Private Equity Firm, focused entirely on the African market.
Primewaterview holdings founded in 2005 is a large scale, diversified holding company with a portfolio of Real Estate, Oil & Gas, Quarry Mining, Healthcare and Power.