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 USD 550 million from anchor 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 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.
“We are very pleased with the significant support from the Danish pension funds and A.P. Moller Holding. Together, we will build and operate infrastructure business in Africa to support sustainable development and improvements in living standards across the continent. We will combine the best from industry in terms of project management and operational capabilities with the best from private equity in terms of agility and focus,” said Kim Fejfer, Managing Partner and CEO of A.P. Moller Capital.
PKA has for many years invested in infrastructure both in Denmark and abroad. A. P. Moller Capital, that has extensive investment experience combined with a strong network and a promising pipeline of potential investment projects. The fund is an example of how private capital can be mobilised on large scale to implement the UN’s Sustainable Development Goals.
The fund has a duration of 10 years and has an initial target of 10 to 15 investments in total.
Following first commitments, the fund will be open for additional institutional investors for the next 12 months. The ambition is to raise USD one billion in commitments.
Source: African Review