International Housing Solutions (IHS), an investment firm focused on residential housing, has reached a first close on its second affordable housing fund, IHS Fund II, with ZAR1.5 billion (approximately US$138 million) in capital commitments. Investors included Overseas Private Investment Corporation, National Housing Finance Corporation, International Finance Corporation, Global Environmental Facility, WDB Investment Holdings and Eskom Pension and Provident Fund. IHS Fund II will consist of two tracks: one of which will invest in South Africa, while the other will target other Sub-Saharan African countries, including Ghana, Zambia, Botswana, Namibia and Mauritius.