$222.5m first close for African infrastructure private equity fund
Africa50 announced the first close of the Africa50 Infrastructure Acceleration Fund, securing $222.5 million in commitments.
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Africa50 Group, the pan-African infrastructure investment platform, announced today the first close of its Africa50 Infrastructure Acceleration Fund (Africa50–IAF), securing $222.5 million in commitments.
Africa50-IAF secured participation from 16 African institutional investors, including sovereign wealth funds, pension funds, social security funds, insurance companies, banks and development finance institutions (DFIs), including the African Development Bank (AfDB) and the International Finance Corporation (IFC).
Africa50-IAF is a 12-year closed-ended infrastructure private equity fund established to invest in infrastructure assets that unlock transformative impact, create jobs, and accelerate Africa’s green industrial revolution.
Alain Ebobissé, CEO of Africa50 Group, expressed enthusiasm about the first close, stating, "We are thrilled to see such strong support from African institutional investors for the Africa50 Infrastructure Acceleration Fund. This achievement is a testament to the increasing role that African institutional investors are playing in financing the real economy and being at the forefront of unlocking Africa's potential. The Africa50-IAF is the first of a suite of new investment vehicles and instruments that the Africa50 Group plans to raise as we seek to mobilise further private sector capital from within Africa and globally into African infrastructure."
Vincent Le Guennou, CEO of Africa50 Infrastructure Acceleration Fund added, "The successful first close is a significant milestone, and we are grateful for the trust and commitment of our investors. The fund is well-positioned to make a lasting impact, accelerating the development of key infrastructure projects that will benefit communities and economies across Africa."
The fund’s target final close is $500 million.
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