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Infra Impact's Fund 1 Closes Above Target

Anna Lyudvig
July 26, 2023, 5:09 p.m.
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The Infra Impact Mid-Market Infrastructure Fund 1, managed by Infra Impact Investment Managers, has exceeded its fundraising target, reaching a successful final close at R2.15bn ($115m).

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The Infra Impact Mid-Market Infrastructure Fund 1, managed by Infra Impact Investment Managers, has exceeded its fundraising target, reaching a successful final close at R2.15bn ($115m).

Mark van Wyk, Co-founder and Co-managing partner, said: “Clients have entrusted us with more than R2bn in commitments, enabling us to actively contribute towards the development of our country and uplifting communities.”

“Using the Fund, we aim to continue our track record of delivering strong investor returns alongside positive outcomes for people and the planet. Investing in infrastructure is crucial for fostering economic growth, creating jobs, and enhancing the overall quality of life in our communities. We are very pleased by the strong support shown by our investors, who share our vision of universal access to sustainable and reliable infrastructure services. Together, we will build a better future for South Africa.”

The investor group comprised a well-diversified array of fourteen prominent limited partners, including local funds of funds, university foundations, insurers, banks, pension funds, and an esteemed international development finance institution.

The final close marks a momentous occasion for Infra Impact as the Fund continues to provide growth capital for South African focused mid-market infrastructure businesses.

The businesses the Fund invests in own real assets that provide essential services and have value creation potential.

The Fund is deployed in line with the teams historically successful mid-market, value-add infrastructure strategy concentrating on the water, waste, energy, telecommunications, and related sectors.

Infra Impact believes the market opportunity remains unprecedented, but trillions of rands of investment are still required to develop sustainable infrastructure across South Africa.

This in turn will support job creation and economic growth.

"We are delighted to have surpassed our initial fundraising target of R1.5bn with overwhelming commitments and support from our esteemed limited partners. This exceptional achievement in a challenging fundraising environment is a testament to our remarkable team, track record, and the unwavering trust our clients have placed in us to execute on our mandate," said Morné Edas, Co-founder and Co-managing partner.

The successful fundraising of the Fund positions the firm as a significant player in the mid-market infrastructure investment landscape in South Africa.

With this impressive pool of capital at their disposal and a history of success, Infra Impact is well-positioned to identify, develop, and manage infrastructure projects that generate attractive risk-adjusted returns.

The Fund has already allocated nearly R300m across four strategic investments, including Eagle Towers, Cybersmart, Maru Towers, and Rhino Energy.

“While the drivers of change in the South African infrastructure sector remain complex, Infra Impact has the sector specialism to navigate this landscape,” said Edas.

“Combining this with our differentiated strategy, we are well positioned to develop and maximise the growing interest in the infrastructure sector,” he added.

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