Greenstone Equity Partners, a leading independent fund placement firm in the Middle East, has collaborated with South Africa-based Harith to raise capital from the Gulf Cooperation Council (GCC) region and direct it to the development of infrastructure projects in Africa.

 

The new partnership will focus on attracting funds for Harith’s latest offering, Pan African Infrastructure Development Fund II (PAIDF II), which requires around $1 billion in capital to invest in energy, telecommunications, transport and water projects, both greenfield and brownfield, across the African continent, said a statement.

 

Omar Al Gharabally, president, Greenstone Equity Partners, said: “Today, we are partnering with one of the largest domestic infrastructure fund managers in Africa that runs over $3 billion in assets under management, and together, combined with our expertise and regional market knowledge, we are confident that we can provide our clients with lucrative opportunities of high returns.”

 

Emile Du Toit, head of PAIDF II at Harith, said: “There is a significant demand for infrastructure investments in Africa that is growing at a fast economic growth rate.

 

“According to industry estimates, over 20 per cent  of  African  households  cite  infrastructure  as  their  primary concern,  while  a  majority  of  businesses  cite  access  to  energy  and transportation as their primary concern. Taking this into account, we see huge potential for investors from the Middle East region to invest in key projects available across the continent in the sectors of energy, telecommunications, transport, and water services.”

 

Pan African Infrastructure Development Fund II was formed to focus on projects in the areas of energy, transportation, information communications technology (ICT), health, water and sanitation, said the statement.

 

The fund had already raised $439 million by June last year, primarily from African institutional investors, and has identified a strong infrastructure deal flow of more than 28 projects with a total value of more than $11 billion in the key focus sectors, it added. - TradeArabia News Service