Our portfolio consists primarily of retail assets, focusing on convenience shopping centres ranging from 3,500m² to 18,000m² located in growing affluent areas within the major cities. Rapfund also participates in development opportunities, partnering with reputable developers when attractive investment opportunities arise. The Fund is internally managed, with property management and administration outsourced to various service providers.
Rapfund is a subsidiary of Folkes Holdings Proprietary Limited.
ACA to intermediate level (2 years)
In 1981, after initial management training in multi discipline businesses ranging from House Building to Engineering to Property Development Con, aged 28, was appointed Chairman and Chief Executive of Folkes Group PLC, a 300 year old business. He was the youngest recorded chairman of a publicly listed company in the UK. Con became responsible for 36 disparate businesses with a turnover of over £100 million employing 2000 people.
Over two decades Con purchased and sold numerous business’s honing the company to become a focused Engineering concern owning one of the leading European Heavy Forges supplying military hardware and the nuclear, oil, gas and aerospace industries alongside a modern Commercial Property business with 200,000 m2 of industrial business space. In 2002 Con, via his private real estate investment company, undertook a Public to Private bid for and merger with Folkes Group PLC, de listing the company in the process. He simultaneously entered the South African property market.
Today the company has assets of some £150 million. Con currently holds directorships in over 50 companies and has recently moved his residency to Jersey, Chanel Islands. He spends half the year in South Africa where his business interests span not only a major shareholding in RAP Fund but other property related investments and a 10,000 Ha Game Farm in the Eastern Cape specialising in breeding Buffalo and Sable.
BVSc MRCVS (Veterinary Surgeon (UK))
After graduating in 2005 with a distinction in Veterinary Medicine, Cleo spent 3 years in private small animal practice as a Veterinary Surgeon with an active role in the business management. Since joining Folkes Holdings Ltd in 2009 Cleo has quickly risen up the ranks from Business Development to Director of Operations to her current position as Deputy Chairman. She holds active positions on the boards of all the Folkes Holding Group companies; both engineering and property and additionally holds a Directorship and alternate Directorship on the boards of two private South African property funds. Cleo also actively participates in the Young Investors Organisation which is a global network of next generation leaders.
Greg is a Chartered Accountant with some 20 years experience in corporate, structured and property finance as well as significant operational exposure to a variety of businesses. Prior to joining Leaf Capital, Greg headed up Cruden Bay Capital, a company focussing on private equity investments and corporate finance consultancy. Previously he was managing director of Clearwater Capital, which he co-founded in 2005, and made a number of property investments including investments in Madison Property Fund Managers, ApexHi Properties, Redefine and other small standalone developments. Clearwater Capital assets where in the region of R1 billion when he left the business in 2011.
Before his time at Clearwater Capital, Greg was Head of Structured Finance at Nedbank Property Finance. Here he was instrumental in the design and execution of a broad range of structured funding solutions, property finance and investments, leveraged buy-outs, BEE transactions and debt syndications.
Greg has served on several boards during his career including, Redefine Properties Ltd (“Redefine”) and Redefine International PLC, companies listed on the JSE and London Stock Exchange respectively. At Redefine he was a member of Redefine’s investment and remuneration and nominations committees and chairman of the audit and risk committee.
Alan is a Chartered Accountant and has been involved in the property sector since 2008. Alan, Rapfund’s Chief Financial Officer, has been involved with the Fund since 2012, firstly as part of the external asset manager Retail Africa Asset Management, and continued to work directly for Rapfund when the asset management function was internalised in 2013.
Before his time with Rapfund, Alan was Chief Financial Officer of Fountainhead Property Trust, one of the larger property stocks listed on the JSE. Alan completed his articles with KPMG in Cape Town, thereafter joining KPMG’s New York Office in their Transaction Services Division, being involved in various aspects of mergers and acquisitions.
Henlie graduated in 1992 with a B.A. in Personnel Management at the University of the Orange Free State. She then joined Performing Arts Council in Bloemfontein as Theatre Manager. In 1996, she joined Retail International as the Marketing Manager of Noordstad Shopping Centre in Bloemfontein. In 1998 she became the General Manager of the Log Logan Waterfront by joining the Atterbury Property Management Group. In 2000 she became the Retail Director of Atterbury Property Management, closely involved in Attfund and Sycom portfolios. She joined the Retail Africa Asset Management in 2007 as Operational Director of Rapfund. In 2012 she took the big step of starting Level Heads Independent Property Consultants, which is integrally involved in the asset management of Rapfund’s property portfolio.
Trish is a Chartered Accountant and completed her articles in 2015 with Grant Thornton in Cape Town. She then went on to Los Angeles (California) and Westchester County (New York) for a short-term secondment, whereupon her return in 2016, she joined the Rapfund team as the Financial Manager.