African Infrastructure Investment Managers (AIIM), a South African based private equity infrastructure fund manager, has secured $320 million from African, European and Asian investors. The company plans to invest the funds in power, transport and energy projects across Africa.
Founded in 2000, AIIM has a presence in Nigeria, Kenya and Cote d’Ivoire and has since inception, carried out 56 transactions across target pan-African markets. The company recently invested in Kenya’s BBOXX New Generation Utility and shortlisted on the Nairobi-Nakuru Highway PPP. The company’s latest funding alongside its various projects valuates commitments to $2.2 billion.
The company is notable for successfully closed exits from funds such as the Azura-Edo Power Plant in Nigeria and Kipeto Energy Limited in Kenya. The exit is alleged to be the largest exit by a private equity fund in the Nigerian power sector.
Jurie Swart, CEO of AIIM said they are delighted that investors share their vision to upscale the African infrastructure opportunity. He also said that they are grateful to their investors for trusting their proposition.
Olusola Lawson, Head of West Africa at AIIM stated that they have a strong belief that Nigeria’s energy sector has great potential. He buttressed this by pinpointing their recent growth equity investment into Starsight Power Utility and commitment to invest in the Uquo Integrated Gas project, which has shown tremendous growth.
AIIM has invested in thermal power, renewable energy, ports & logistics and airports sectors across 12 African countries.