Page 7 - AfrElec Week 31 2022

AfrElec INVESTMENT AfrElec

Cape Town-based AIIM secures two

investment commitments for new

infrastructure development fund

SOUTH AFRICA CAPE Town-headquartered African Infra- Mokobela-Shataki consortium in a ZAR1.6bn
structure Investment Managers (AIIM), one of ($109mn) takeover of The Logistics Group
the largest infrastructure-focused private equity (TLG). AIIM, through its flagship South African
firms with a pan-African remit, has attracted IDEAS Fund and the new AIIF4 Fund, acquired
Limited Partner (LP) commitments from two a 74% stake in TLG. The remaining 26% stake
development financial institutions, The Capital was acquired by the Mokobela-Shataki consor-
Quest reports. tium and Monhla Hlahla, current chairperson of
British International Investment (BII) and Royal Bafokeng Holdings.
Dutch investor FMO confirmed on July 27 their The AIIF4 will invest across three priority
respective investment commitments of $76mn infrastructure sub-sectors: renewable energy
and $40mn, respectively, to the AIIM-man- such as rooftop solar; digital infrastructure
aged African Infrastructure Investment Fund 4 including mobile telecoms towers, data centres,
(AIIF4). and fibre optic networks; and mobility and logis-
The fund has a target size of $500mn with tics such as ports, roads and other supporting
a hard cap at $750mn and had previously infrastructure.
received a cornerstone investment from Old According to The Capital Quest, AIIM is eye-
Mutual, AIIM’s sponsor and a prominent Afri- ing more than $3bn in cumulative assets under
can financial services group. Both BII and FMO management with the new infrastructure fund
are returning LPs from AIIM’s previous funds, and is also in the process of negotiating with
writes The Capital Quest. another LP with a large cheque.™
This March, the AIIF4 led the

Week 31 04•August•2022 www. NEWSBASE .com P7