Africa infrastructure investors, Harith General Partners, has announced the launch of $200 million (about N76.1 billion naira) capital raise in a follow-up fund to its Pan African Infrastructure Development Fund (PAIDF) 2, which it said is open to existing and new investors.
The PAIDF 2 Infrastructure Top Up Fund is a shorter term vehicle (5-to-6 years) that is being established to take advantage of very near-term expansion opportunities in some of the best performing PAIDF 2 portfolio companies and realise a mature pipeline of high-quality infrastructure opportunities for investors.
The portfolio companies include leading Africa Independent Power Providers, Aldwych Holdings Limited, South African telecommunications infrastructure group CIVH; MainOne, Lanseria International Airport of South Africa and Beitbridge Border Post.
The firm said capital raised will be invested in existing PAIDF portfolio company expansion opportunities as well as in selected key new pipeline deals and strategic infrastructure investment opportunities that are both pre-determined and existing.
It explained that Since 2007, PAIDF 1 has recorded a 36 per cent increase in the USD amount invested in Portfolio Valuation to the tune of $742,9 million at 31 December 2020 while PAIDF 2 has recorded 84 per cent increase in the USD amount invested with a portfolio valuation of $471,8 million at 31 December 2020.
Harith CEO General Partners Sipho Makhubela said: “Rather than just investing in potential future projects, our PAIDF 2 Top-Up Fund provides investors with immediate exposure to established, world-class assets that are generating returns today and an experienced management team that has been together for more than a decade, making investments in some of the most difficult environments on the continent.