The Emerging Africa Infrastructure Fund (EAIF), which is part of the Private Infrastructure Development Group (PIDG) and managed by impact investor Ninety One, has revised its name to Emerging Africa and Asia Infrastructure Fund (EAAIF) to reflect its broadened mandate, which now includes South and Southeast Asia.
Ninety One, an active global investment manager, is EAAIF’s fund manager. It invests at the intersection of returns and impact and aims to deliver attractive risk-adjusted returns.
The EAAIF is a blended finance vehicle that raises and deploys public and private debt capital to transformative infrastructure projects across Africa, the Levant and South and Southeast Asia.
EAAIF provides various debt products on commercial terms to infrastructure projects. It has supported 96 closed infrastructure projects across 10 sectors in over 20 African countries.
EAAIF’s committed loan portfolio is $1.35 billion invested in 20 countries and across 10 sectors. EAAIF is part of PIDG. EAAIF was established and substantially funded by the governments of the United Kingdom, The Netherlands, Switzerland, and Sweden. In addition, it raises its debt capital from public and private financiers. EAAIF is managed by Ninety One.
According to the company release, infrastructure development in Africa will remain a core focus of the fund’s objectives. As one of Africa’s leading impact investors and a principal provider of debt finance, the fund’s expanded scope will enable it to catalyse transformative infrastructure investment in dynamic growth markets in Asia, including Indonesia, Vietnam, and Malaysia.
This will also enhance the resilience of vulnerable communities in low- and middle-income countries affected by the climate crisis.
Roland Janssens, Managing Director, Ninety One Esther Chan & Sumit Kanodia, Director, Ninety One, will spearhead EAAIF’s operations in Asia from Singapore.
“From a strategic base in Singapore, EAAIF will seek to invest in transformative infrastructure projects in priority sectors such as renewable energy, digital communications and transport. EAAIF will leverage PIDG and Ninety One’s strong track record of investing in Asia to support EAAIF’s participation in Asian infrastructure debt markets and accelerate the transition to a lower-carbon future,” said Roland Janssens, Managing Director, Ninety One.
InfraCo Asia, which is also part of PIDG, had provided a $4-million convertible loan to Vietnamese electric two-wheeler manufacturing company Dat Bike in August this year.
