Investec Asset Management has announced its appointment to manage the $670m Emerging Africa Infrastructure Fund, a public-private partnership anchored by the governments of the United Kingdom, The Netherlands, Sweden and Switzerland, following a competitive tender process that brought interest from over 30 companies globally.
This announcement, according to the firm, further deepens its pan-African investment expertise and follows the recent launch of the Growthpoint Investec African Properties platform to invest in real estate on the continent, and the recent closure of its second Africa private equity fund.
The EAIF is an initiative of the donor-financed Private Infrastructure Development Group and was developed to mobilise capital into private sector infrastructure projects across sub-Saharan Africa. Established in 2002, the fund has committed over $1.2bn to 63 projects in 19 countries.
The Chief Executive Officer, Investec Asset Management, Hendrik du Toit, explained, “The private sector has a crucial role to play in unlocking the conditions for the sustainable, long-term development of Africa’s infrastructure.
“A major initiative of its kind globally, this fund aims to provide growth capital, expertise and support to these projects with the aim of stimulating economic development, encouraging growth and employment, and fuelling Africa’s long-term development.”