Final close reached for Evolution II Fund

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Evolution II fund has reached final close with raising a total of US$ 216 million. After the first close, the fund has secured US$ 87.75 million in commitments from CDC Group, Cyane Holdings, the European Investment Bank, KLP Norfund Investments, Morgan Stanley Alternative Investment Partners and a US healthcare system. 

Evolution II is fund with a mandate for equity and equity-related investments into two principle investment streams: development and project finance infrastructure-type investments in clean and sustainable energy; and growth equity investments in energy and resource efficiency companies, and the value chains that support them. The Evolution II Fund will invest in various renewable energy and resource-efficiency assets across sub-Saharan Africa over a period of 10 years. The fund manager, Inspired Evolution Investment Management, brings experience and knowledge to the project from its previous fund, which focused on the Southern African Development Community (SADC) region and delivered 12 renewable energy projects with a total generation capacity of 925 MW. 

List of the country updates

Country updates

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  • August 29, 2019

    Climate Investor Fund invests in AfDB's Facility for Energy Inclusion

    The Clean Technology Fund (CTF) one of two multi-donor trust funds within the Climate Investment Funds (CIF) on August 8, 2019, approved $20 million for the Facility for Energy Inclusion (FEI), a faci...

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  • August 20, 2019

    MIGA backs 100 MW KaXu Solar One solar power plant in South Africa

    MIGA, a member of the World Bank Group, has issued US$98.6 million in guarantees to Atlantica Yield PLC for the ownership and operation of the 100 MW KaXu Solar One solar power plant in South Africa....

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  • August 19, 2019

    Actis announces acquisition of BioTherm Energy and its renewable energy assets

    Actis has acquired BioTherm Energy (BioTherm), a South Africa-based, pan-African renewable energy businesses, from Denham Capital, a global private equity firm. BioTherm consists of a strong Johannes...

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  • July 29, 2019

    AIMM closes African Infrastructure Investment Fund 3

    African Infrastructure Investment Managers (AIIM) has reached the financial close of its flagship pan-African infrastructure fund, AIIF3, which raised US$320 million from a diverse investor base...

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