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Harith General Partners, one of the largest investors in African Infrastructure, has announced a US$200 million capital raise in a follow-up fund to its Pan African Infrastructure Development Fund (PAIDF) 2, that is open to existing and new investors.
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 Provider’s on the continent; leading South African telecommunications infrastructure group CIVH; MainOne, an undersea cable company and leading provider of innovative telecom services and network solutions for businesses in West; Lanseria International Airport, South Africa’s only privately owned international airport; the busiest border post in Southern Africa, Beitbridge Border Post, among others.
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 36per cent increase in the USD amount invested. The fund had a Portfolio Valuation of US$742,9 million at 31 December 2020. PAIDF 2 has recorded an 84 per cent increase in the USD amount invested and had a portfolio valuation of US$471,8 million at December 21, 2020.
