Harith General raises US$200m capital for its PAIDF 2 fund for investors

AFRICAHarith General Partners, an investor 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 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.

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.

“Rather than just investing in potential future projects, our PAIDF 2 Top-Up Fund provides investors with immediate exposure to established, world- class assets that are generating returns today,” Sipho Makhubela, CEO, Harith General Partners, said.

“Our highly experienced management team has been together for more than a decade, making investments in some of the most difficult environments on the continent. Harith is therefore uniquely positioned to capitalise upon the critical infrastructure requirements presented by the African Continental Free Trade Area (AfCFTA).

Harith is therefore uniquely positioned to capitalise upon the critical infrastructure requirements presented by the African Continental Free Trade Area (AfCFTA).”

Sipho Makhubela – CEO, Harith General Partners

“The PAIDF 2 Top-Up fund will further invest in up to eight core strategic transactions that will strengthen capacity to leverage large-scale future projects and allow Harith to scale up its existing position in some of the best portfolio companies in the PAIDF portfolios.”

Harith’s PAIDF 1 & PAIDF 2 portfolio companies include Aldwych Holdings Limited, one of the largest Independent Power Providers on the continent: leading South African telecommunications infrastructure group CIVH.

Others include MainOne, an undersea cable company and leading provider of innovative telecom services and network solutions for businesses in West Africa; Lanseria International Airport, South Africa’s only privately owned international airport; Beitbridge Border Post, the busiest border post in Southern Africa, and others.

Since 2007, PAIDF 1 has recorded a 36% increase in the USD amount invested. The fund had a Portfolio Valuation of US$742.9 million on December 31, 2020.

PAIDF 2 has recorded an 84% increase in the USD amount invested and had a portfolio valuation of US$471.8 million on December 31, 2020.

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