Pembani Remgro Infrastructure Fund II lands commitment from European LP
Pembani Remgro Infrastructure Fund II lands commitment from European LP
Proparco has committed $15 million to the Pembani Remgro Infrastructure Fund II.
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French development finance institution Proparco has committed $15 million to the Pembani Remgro Infrastructure Fund II (PRIF II).
Founded in 2012, South African-based investment manager Pembani Remgro Infrastructure Managers (PRIM) has established itself as a significant player in African infrastructure investment through its first fund, Pembani Remgro Infrastructure Fund I (PRIF I).
PRIM is now launching a second fund, PRIF II, which will broadly follow the same investment strategy as PRIF I, targeting infrastructure opportunities in Africa. PRIF II will consider opportunities in traditional infrastructure sectors such as logistics, transportation, and utility-scale electricity generation, as well as emerging infrastructure sectors, including energy transition, digital infrastructure, waste-to-value, grid balancing, and energy efficiency.
“We are very proud to invest in PRIF II, alongside Remgro and other development finance institutions,” said Françoise Lombard, CEO of Proparco. “At Proparco, we firmly believe that infrastructure is the backbone of social and economic development. It provides sustainable improvement in people’s livelihoods, enables businesses to thrive, and creates the foundation for long-term sustainable growth.”
Herc van Wyk, CEO of PRIM said, “PRIM is delighted to welcome Proparco as an investor in PRIF II, thereby broadening its network of investors who share a common goal of contributing to the rise of the African continent by addressing the clear need for sustainable infrastructure. We look forward to working with Proparco as a long-term partner.”
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