IDEAS fund completes capital increase of USD371.9 mn

African Infrastructure Investment Managers (AIIM) has completed a capital increase of ZAR5.5 billion (US$371.94 million) for its flagship SADC infrastructure fund, the IDEAS Managed Fund (IDEAS) in South Africa.

The fundraise exceeds the initial ZAR4.5 billion (US$304.3 million) target by 20%, reaching the size of the fund to more than ZAR22 billion (US$1.49 billion). The Infrastructural, Developmental and Environmental Assets (IDEAS) Managed Fund will deploy the capital according to the fund’s existing mandate. It will provide investors with exposure to a diversified portfolio of sustainable infrastructure assets across the SADC region.

This fundraising will support the deployment of an active pipeline of assets across the power, digital infrastructure and transport sectors over the next three years. Historically, IDEAS has targeted opportunities in the renewable energy area, with a 75% allocation to investments in the sector.