AIIM completes $370M fundraise for IDEAS clear vitality fund
African Infrastructure Funding Managers (AIIM), has accomplished a profitable USD370 million fund capital improve for its flagship SADC area infrastructure fund – The IDEAS Fund, one of many area’s largest home infrastructure fairness fund that invests in an financial, social, and renewable vitality infrastructure fund.
The increase exceeds the fund’s preliminary goal of USD301m by 20% elevating the dimensions fund dimension to USD1.475bn. The cash will go in the direction of its present mandate that exposes buyers to a diversified portfolio of sustainable infrastructure property. Supported is the deployment of an lively pipeline of property throughout the facility, digital infrastructure, and transport sectors over the approaching three years in sync with present long-term financial and environmental sustainability targets.
Previously, IDEAS primarily focused alternatives in renewable vitality by allocating 75% of the funds towards funding within the sector. At this time their contribution equates to 25% of South Africa’s clear vitality provide grid, offsetting 3.7 million tCO2 equivalents in 2020 energy 1.1 million households with clear vitality. AIIM and IDEAS at the moment are key gamers in South Africa’s clear vitality transition.
Within the press launch, Vuyo Ntoi, AIIM co-Managing Director identified that the market has reached an inflection level the place “public coverage assist catalysing wholesome deal circulate and growing non-public sector investor urge for food.”
The brand new commitments had been secured by 19 key South African institutional and pension fund buyers with new fund buyers making up two-thirds of the funds dedicated. The investor urge for food capitalized on current curiosity in different property and anticipated amendments to Regulation 28 look to assist elevated allocation to infrastructure property from South Africa’s pension business. That is additional supported by the popularity of infrastructure as a key asset class within the supply of impression throughout a large funding portfolio. AIIM is one in all Africa’s largest infrastructure-focused non-public fairness fund managers.