Key Takeaways
- • AfricaWorks Investment Partners (AWIP) has closed its second fund, AWIP II, with a total of $25 million in equity and debt.
- • AWIP II has secured capital commitments from approximately 12 limited partners, including European private investors and African family offices.
- • The fund targets four to five real estate assets in Abidjan, Côte d'Ivoire and Dakar, Senegal, totaling about 20,000 sq m with a target IRR of 25% per asset.
- • AWIP I, raised in 2025 for $8 million, has been fully deployed into two off-market assets in Dakar and Lagos, with operations expected to begin in Q1 2027.
Summary
AfricaWorks Investment Partners (AWIP), the real estate investment arm of flexible workspace operator AfricaWorks, has closed its second fund, AWIP II, with a total of $25 million in equity and debt, according to Africa Private Equity News. AWIP acquires, transforms and operates urban mixed-use real estate assets in West Africa, repositioning them as buildings combining offices, hospitality, event spaces and food and beverage, operated directly by AfricaWorks' operating arm.
AWIP II has secured capital commitments from approximately 12 limited partners. Named strategic investors include Robert Daussun of LBO France and Emmanuel and Matthieu Russel of Work & Share. European private investors include Marine Bellanger-Sood, partner at Bain, Jérémie Delecourt, former COO of Ardian, Aude Grant, deputy CEO of Covivio, and Dominique Ozanne, chairman of Hova Hospitality. African family offices include Groupe Filatex, represented by Hasnaine Yavarhoussen, and Spark Capital, represented by Rayan and Hicham Sharara.
The fund targets the acquisition and development of four to five real estate assets, primarily in Abidjan and Dakar, with a target size of approximately 5,000 sq m per asset and a target IRR of 25% per asset. Total area across the assets is expected to reach 20,000 sq m, with assets expected to be operational within 24 to 30 months. Grégoire Schwebig, co-founder and CEO of AWIP, said the platform was designed to be close to the everyday needs of businesses across Africa and that AWIP II reaffirms the relevance of the model, built on an understanding of African urban dynamics and rigorous investment discipline.
AWIP was founded in 2025 by Schwebig and Anthony Anziani as a natural extension of the AfricaWorks model, with offices in Abidjan, Dakar and Lagos. Its first vehicle, AWIP I, raised $8 million in 2025 from private investors and local commercial banks and has been fully deployed into two off-market assets, in Dakar and Lagos, Nigeria, which are scheduled to begin operations in Q1 2027.
AWIP II has secured capital commitments from approximately 12 limited partners. Named strategic investors include Robert Daussun of LBO France and Emmanuel and Matthieu Russel of Work & Share. European private investors include Marine Bellanger-Sood, partner at Bain, Jérémie Delecourt, former COO of Ardian, Aude Grant, deputy CEO of Covivio, and Dominique Ozanne, chairman of Hova Hospitality. African family offices include Groupe Filatex, represented by Hasnaine Yavarhoussen, and Spark Capital, represented by Rayan and Hicham Sharara.
The fund targets the acquisition and development of four to five real estate assets, primarily in Abidjan and Dakar, with a target size of approximately 5,000 sq m per asset and a target IRR of 25% per asset. Total area across the assets is expected to reach 20,000 sq m, with assets expected to be operational within 24 to 30 months. Grégoire Schwebig, co-founder and CEO of AWIP, said the platform was designed to be close to the everyday needs of businesses across Africa and that AWIP II reaffirms the relevance of the model, built on an understanding of African urban dynamics and rigorous investment discipline.
AWIP was founded in 2025 by Schwebig and Anthony Anziani as a natural extension of the AfricaWorks model, with offices in Abidjan, Dakar and Lagos. Its first vehicle, AWIP I, raised $8 million in 2025 from private investors and local commercial banks and has been fully deployed into two off-market assets, in Dakar and Lagos, Nigeria, which are scheduled to begin operations in Q1 2027.
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