IFC proposes up to $130m commitment to BlackRock-managed fund
The infrastructure debt fund targets 10%–20% of investments in Africa.
** For the best experience, download the free Africa Private Equity News app Android | iOS **
The International Finance Corporation has disclosed a proposed commitment of up to $130 million in the Infrastructure Resilience Development Fund (IRDF), a global closed-end private infrastructure debt fund managed by BlackRock.
The fund aims to enhance resilience in emerging markets by investing in US dollar-denominated senior and mezzanine infrastructure debt instruments.
IRDF comprises three investment vehicles aligned to the risk expectations of institutional investors. The fund will target 40% to 60% of investments in Latin America, 30% to 50% in Asia, and 10% to 20% in Africa.
IFC’s investment will be split between up to $95 million in the Blended Fund and up to $35 million in the mezzanine tranche of the Junior Fund.
The fund is expected to invest in up to 20 projects.
Want to know who is raising, investing, and exiting in Africa? Get Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Subscribe now