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The first closing event for the fund took place March 11. Several leading financial institutions have already committed to the CAPIC that includes CDC Group, IFC, OPIC, First Bank Nigeria plc and Diamond Capital. The fund will have aggregate commitments of $200 – $300-million from a mix of local and international investors at final close, and will make equity and quasi-equity investments in real estate development and related opportunities.The Real Estate fund will have the ability to invest up to $600-million in the development and financing of residential, office, retail and hospitality real estate projects in West Africa. APIC already has a strong deal flow pipeline, which includes opportunities to develop quality real estate with strong potential for current yields, good capital appreciation and downside protection.