ARM-Harith launches new West Africa fund
ARM-Harith Infrastructure Investments Limited, a Mauritius-regulated infrastructure fund manager and parent company of ARM-Harith Infrastructure Investment Limited Nigeria, is to launch the ARM-Harith Cities and Climate Transition Fund (The ACT Fund), a pillar of ARM-Harith’s sustainable infrastructure investment platform anchored on climate action.
The ACT Fund is part of ARM-Harith’s broader climate finance platform and will invest in urban climate infrastructure solutions with an initial focus on renewable energy, urban mobility, water, and waste. This $250 million-target fund is being designed in collaboration with the Global Innovation Lab for Climate Finance, a public-private partnership initiative funded by the Dutch, German, Swedish, and UK governments, as well as the Rockefeller Foundation. The platform will enable ARM-Harith to leverage on its relationships with regional pension funds and international DFIs to mobilise international capital and domestic pension savings into infrastructure which supports a low-carbon future.
Tariye Gbadegesin, chief executive officer at ARM-Harith said, “We are thrilled to build on the track-record of our first fund ARMHIF 1 to establish a broad-based climate infrastructure investment programme in partnership with global financial institutions to mobilise climate finance to West Africa and importantly, Nigeria.”
“As we continue to embrace sustainable investing across the ARM Holding Company group, we are pleased to partner with ARM-Harith as one of its consortium members in achieving the broad ESG strategy of the ARM Group,” remarked Jumoke Ogundare, group CEO of ARM.
Alwyn Wessels, deputy CEO of Harith General Partners said, “Harith as a partner with and investor in infrastructure funds across Africa is excited by the prospects of The ACT Fund and the potential for the fund to promote real climate action in West Africa.”
ARM-Harith is a joint venture between Asset & Resource Management Holding Company Limited (ARM), Nigeria’s largest non-bank financial services provider, and Harith General Partners, a pan-African infrastructure fund manager based in South Africa.
Set-up in 2013, ARM-Harith closed its first fund in 2015, a parallel fund established in Nigeria and Mauritius, and the first infrastructure fund to be registered by the Nigerian Securities & Exchange Commission.
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