Cape Town - A.P. Moller Holding has together with PKA, PensionDanmark and Lægernes Pension launched a new infrastructure fund with a focus on Africa.
The fund has received commitments of $550 million from anchor investors.
The new fund will focus on investments in infrastructure in Africa to support sustainable economic growth in the region, while delivering an attractive return to its investors.
The fund will be managed by A.P. Moller Capital, which is an affiliate of A.P. Moller Holding, and consists of a team lead by four partners, Kim Fejfer, Lars Reno Jakobsen, Jens Thomassen and Joe Nicklaus Nielsen. The partners all have extensive industrial and investment experience combined with a substantial network in Africa.
The fund has a duration of 10 years and has an initial target of 10 to 15 investments in total.
Torben Möger Pedersen, CEO PensionDanmark is delighted to be among the seed investors in the Africa Infrastructure Fund I.
"We see this as a unique opportunity to invest in a region with high economic growth and attractive investment opportunities alongside a partner, A. P. Moller Capital, that has extensive investment experience combined with a strong network and a promising pipeline of potential investment projects," said Pedersen.
"The fund is a good example of how private capital can be mobilized on large scale to implement the UN’s Sustainable Development Goals”.
Following first commitments, the fund will be open for additional institutional investors for the next 12 months. The ambition is to raise $1bn in commitments.
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