South Africa: Moshesh Partners reaches first close for Renewable Energy and Clean Infrastructure Fund

Moshesh Partners, a mid-market alternative asset manager, has reached a first close for its first Renewable Energy and Clean Infrastructure Fund, and is targeting R2 billion (about $140.8 million) in assets under management in the next 18 months. This is in addition to the more than 2,000 MW pipeline of solar, wind and storage projects it has already secured.

The fund anticipates equity returns of 16-18%, uncorrelated to securities markets, and will deploy debt and equity refinancing and structuring to further boost returns.

“Our investment team has a strong track record in renewable energy, having already raised and deployed more than R5 billion (about $352 million) in renewable energy projects,” says Sifiso Shongwe, co-founding member and chief executive officer of Moshesh Partners. “This includes raising and deploying capital via equity, mezzanine and debt into projects totalling 2,507 MW across solar PV, wind, CSP, plastic to fuels, and open-cycle gas turbine plants.”

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