Finance

Fund manager AIIM completes $80mln capital increase for third fund

Thursday, 03 December 2020 17:12
Fund manager AIIM completes $80mln capital increase for third fund

(Ecofin Agency) - For its third investment fund, African Infrastructure Investment Managers (AIIM) completed a capital increase by mid-November 2020. The operation open to the shareholders of this fund was made public at the beginning of December. The African Infrastructure Investment Fund 3 (AIIF3) received $80 million at the end of this process.

AIIM3, which made its last closing in May 2019, targets investments in infrastructure projects in Sub-Saharan Africa. This additional financial contribution will be deployed in the energy and digital infrastructure sectors.

The fund will focus on executing transactions between $20 million and $60 million. It plans strategic agreements in high-growth countries and sectors that have shown greater resilience to the coronavirus pandemic.

To date, AIIM3 has completed 9 investment transactions. The new capital increase brings AIIF3's total commitments to $400 million. Commenting on the transaction, Paul Frankish, Director of Investments at AIIM, welcomed the continued confidence placed in AIIM's strategy by certain investors.

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