Harith General Partners has announced a $200 million capital raise in a follow-up fund to its Pan African Infrastructure Development Fund (PAIDF) 2.
The Top-up fund provides exposure to Africa’s growth accelerated by the African Continental Free Trade Area. The PAIDF 2 Infrastructure Top Up Fund is a shorter-term vehicle (5-to-6 years) that is being established to take advantage of very near-term expansion opportunities in some of the best performing PAIDF 2 portfolio companies and realise a mature pipeline of high-quality infrastructure opportunities for investors.
Harith’s PAIDF 1 & PAIDF 2 portfolio companies include Aldwych Holdings Limited, one of the largest Independent Power Providers on the continent.
The capital raised will be invested in existing PAIDF portfolio company expansion opportunities as well as in selected key new pipeline deals and strategic infrastructure investment opportunities. These opportunities are both pre-determined and existing.
Since 2007, PAIDF 1 has recorded a 36% increase in the USD amount invested. The fund had a Portfolio Valuation of $742,9 million as at 31 December 2020. PAIDF 2 has recorded an 84% increase in the USD amount invested and had a portfolio valuation ofS$471,8 million as at 31 December 2020.
Sipho Makhubela, CEO of Harith General Partners said: “Rather than just investing in potential future projects, our PAIDF 2 Top-Up Fund provides investors with immediate exposure to established, world-class assets that are generating returns today.”