The Emerging Africa Infrastructure Fund’s five-year plan will be financed with $385mn
The Emerging Africa Infrastructure Fund announced that it completed its latest funding round on 10 April, raising US$385mn in long-term debt capital.
The financing will be used to fund the public private partnership’s five year business plan – the core strategy being to mobile the private sector capital to enhance infrastructure investments.
KFW, FMO, Standard Chartered Bank, and the African Development Bank all returned to fund EAIF.
Allianz, the financial services company based in Germany, invested money in the fund for the first time.
“We believe in Africa’s growth potential and will invest across different asset classes across the continent,” stated Sebastian Schroff, Global Head of Private Debt at Allianz Investment Management.
“The partnership with EAIF and Investec Asset Management is an important contribution to this initiative and illustrates how to create attractive risk and return profiles with the necessary downside protection for our policyholders.”
“We are delighted to put our infrastructure debt expertise to work to help facilitate Allianz’ investment strategy in Africa,” commented Nadia Nikolova, Director of Infrastructure Debt at Allianz GI.
“Over the last five years, our global infrastructure debt platform has invested over €10 billion into infrastructure projects across the globe.”
“As Africa unlocks its economic potential, the continent will become increasingly important for institutional investors.”