Stanlib enters infrastructure, private equity sectors with R1.2bn fund
Financial services provider Stanlib aims to channel the bulk of a R1.2-billion infrastructure equity fund into some of the infrastructure projects under way in South Africa, with a particular focus on renewable energy.
Stanlib on Tuesday said the fund, which would also inject capital into projects across sub-Saharan Africa, would invest in sectors requiring third-party capital for projects presenting an attractive combination of risk and return.
The ten-year closed-ended infrastructure fund was the company’s first foray into infrastructure and private equity, explained Stanlib CEO Seelan Gobalsamy, who added that this formed a part of the asset manager’s strategy to bolster its alternative investment capabilities.
“We provide that platform and believe that alternative investments will be playing an increasing role in most institutional investment portfolios,” he added.
While renewable energy was a key focus point of the fund, the group would also examine investment opportunities in water, power, transport, telecommunications and oil and gas infrastructure projects.
Stanlib was currently developing a second fund to focus on post-construction and operational infrastructure assets.
The financial services provider said it closed fundraising after successfully raising more than R1-billion in total commitments, with around R800-million raised from local institutional investors since its first close in May 2013.
The group had already made investments accounting for more than half of the fund’s total commitments.
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