CATEGORIES: Africa, Private Equity, REITs & Funds

A.P. Moller Capital reaches $865m in commitments for its Africa Infrastructure Fund

With fresh committments from Danish pension funds and insurance companies, A.P. Moller Capital’s Africa Infrastructure Fund has had its 2nd close with total commitments now reaching USD 865m. The fund was launched in August 2017 with commitments of USD $550 million from large Danish pension fund anchor investors including PKA, PensionDanmark and Lægernes Pension. It also received further commitments of USD $100 million from PFA Pension in September 2017.

The fund, which is targeting USD $1 billion, will focus on investments in infrastructure in Africa to support sustainable economic growth in the region while delivering an attractive return to its investors. It will be managed by A.P. Moller Capital, and will have a duration of 10 years with an initial target of 10 to 15 investments in total. According to AfCD typical investments are expected to range between $50 million and $200 million in size, with priority being given for opportunities in ten African countries, Nigeria, South Africa, Ghana, Egypt, Kenya, Cote d’Ivoire, Tanzania, Morocco, Ethiopia and Senegal.

The 2nd close commitments are subscribed by Danica Pension, Danske Invest, SEB Pensionsforsikring and SEB Pension och Försäkring.

Kim Fejfer, Managing Partner and CEO, A.P. Moller Capital explained:

“We are pleased and proud to announce that six months after the announcement of our Africa Infrastructure Fund, we have received total commitments of USD 865m from leading investors in Denmark and Sweden. With Danica, Danske Invest and SEB on board, we have increased our capacity to support a sustainable development in Africa through infrastructure investments.”