EAAIF completes $325 million debt raise
The Emerging Africa & Asia Infrastructure Fund, managed by Ninety One, has raised $325 million in new debt facilities.
The Emerging Africa & Asia Infrastructure Fund (EAAIF), managed by Ninety One, has raised $325 million in new debt facilities, bringing recent commitments to $620 million and exceeding the fund's $500 million target ahead of schedule.
Allianz Global Investors led the latest round on behalf of Allianz Group, committing €100 million. South Africa’s ABSA contributed $75 million, while Standard Bank, already a lender to the fund, added $50 million. Japan’s Sumitomo Mitsui Banking Corporation (SMBC) extended a $50 million credit facility, and Swedfund, Sweden’s development finance institution, allocated €40 million. The latest funding builds on EAAIF’s $294 million capital raise earlier in 2024.
Since its inception in 2001, EAAIF has committed over $3 billion to more than 125 infrastructure projects in Africa and Asia.
Martijn Proos, co-head of EM alternative credit at Ninety One and managing director for EAAIF, said: “These successful subsequent debt raises highlight global investors’ confidence in EAAIF's ability to create attractive investment solutions that seize untapped opportunities in fast-growth markets. By strengthening our capital base and diversifying our funding sources, we are favourably positioned to drive business growth and economic transformation through private infrastructure debt investment in pioneering infrastructure. We thank Allianz, ABSA, Standard Bank, SMBC, and SwedFund for their continued support.”
Neha Bantha, executive vice president for leveraged finance at Standard Bank Corporate & Investment Banking said: “We are proud to be part of this consortium which will enable funding for strategic infrastructure projects that underline our broader purpose, to drive Africa’s growth. This transaction forms a cog in our broader wheel of innovative financing and objective to deliver structured capital solutions that help our partners and clients deliver for the continent and we look forward to future partnership opportunities that leverage Africa’s immense potential.”
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