Established and registered in Mauritius in January 2009, IOREC is a property development company born from a partnership between two conglomerates, GML, the number one company in Mauritius and the giant private equity group, Actis. IOREC boasts a strategic asset pool of land and equity coupled with a team of local and international experts in the field of real estate development. IOREC has at heart its social responsibility; as such, it abides to strict environmental norms such as LEED and HQE and endeavours to put the community at the centre of all its projects.
Flacq United Estates Limited (FUEL), founded in 1948 is the largest private land owner on the island of Mauritius with 10,500 hectares of land, of which 8,000 hectares is under cane. The Group is predominantly engaged in the cane growing and sugar manufacturing business but over the years has diversified substantially into other business activities. At June 2010, the Group posted a total assets value of USD 430 million.
GML is a significant economic player within the Indian Ocean and has remained for some time as leader of the “Top 100” mauritian companies and in the premier groups of the Indian Ocean. GML is active across the mauritian economy which represented in 2010 a portfolio of approximately 300 subsidiaries and associated companies. The group had a turnover of USD 550 million as at June 30th 2010 and with more than 10,000 employees is individually responsible for a contribution of 9.1% to the GDP of Mauritius as a country.
Actis was founded in July 2004 as an emerging markets private equity fund. Actis at a glance:
USD 4.8 billion – total funds under management.
87,383 – number of employees in Actis portfolio companies around the world.
69 – number of portfolio companies.
USD 4.3 billion – realised from USD 1.7 billion invested.
234 – Actis staff employed in 10 offices around the globe.