Daniel Kamau is succeeding Luke Kinoti as Chief Executive Officer of Fusion Capital, the East African private equity and real estate investment firm. Kinoti, who has been the firm’s CEO since 2006 when he co-founded the firm with Philip Goodwin, is retiring from the role and will pursue other business interests.
Kamau’s new position comes as the result of an internal promotion. He has worked for Fusion for ten years and most recently has held responsibility for the group’s real estate investments and developments in the region. According to a report in How we made it in Africa in October last year, the real estate sector accounted for more than 85% of Fusion Capital’s investments, totaling some $220 million in commitments.
The firm’s real estate portfolio consists of several high-profile developments including Kigali Heights in Rwanda, Grande Park Estate in Nakuru, Kenya and the Gold Mark Properties in Uganda. Earlier in March this year it was announced that Fusion had acquired a 75% stake in Thika Royal Palms from Hand in Hand Development Group in an undisclosed deal.