African Infrastructure Investment Managers (AIIM) has raised USD 320 Mn for the final close of its flagship mid-market infrastructure fund. Dubbed AIIF3, the fund was raised from a base of diverse investors across Africa, Europe and Asia.
An official statement following this development reveals that AIIM has raised USD 2.2 Bn since inception, doing so across seven rounds. The organization has also executed more than 56 transactions in earmarked pan-African markets.
AIIF3, focusing on diverse and predictable cash flows, targets substantial influence investments across the power, transport and midstream energy sectors in Sub-Saharan Africa. The areas represent the most significant disconnection between the demand for critical infrastructure and capital supply.
According to AIIM, the limited partners involved in the newly launched fund include existing AIIF2 investors who join hands with new commitments from a league of global investors. This is another demonstration of how Africa is waxing into an attractive investment destination.
AIIF3’s also focuses to continue the implementation of rigorous and ambitious Environmental, Social and Governance (ESG) strategy. This is in the trail of its self-saddled responsibility to all stakeholders, including the communities in which it operates.
AIIM has successfully incorporated its fund’s Social and Environmental Management System (SEMS) into the investment process. With every single financing, the fund develops a robust measurement system that is in alignment with the United Nations’ Sustainable Development Goals.
According to the fund’s manager, five of AIIF3’s portfolio assets are already operational and delivering against their original investment theses. The support AIIM has gotten from existing and new investors is an indication of its strong strategy and track record.
”The success of AIIM’s fundraising against this backdrop demonstrates the confidence our deeply experienced investors feel in both our team and the potential of Africa.”
Jurie Swart (featured image), AIIM CEO said: “This fund epitomizes AIIM’s broader investment thesis of building out domestic infrastructure in Africa and driving sustainable economic growth across the region.
”AIIM’s 2,100MW renewable energy portfolio generated a total of 1,795GWh of clean power last year, offsetting nearly 1 million tonnes of Co2 equivalents and at full generation, AIIM projects will generate around 10 percent of Nigeria’s on-grid generation, 27 percent of Mali’s on-grid generation and 17 percent of Ghana’s on-grid capacity.”
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