The Actis Long Life Infrastructure Fund (ALLIF), managed by U.K.-based Actis, has closed on $1.23 billion in capital commitments, the firm announced on Aug. 14.
The investor base comprises institutional investors from North America, Europe, Latin America and Asia.
In late July, the $31.3 billion South Carolina Public Employee Benefit Authority earmarked $75 million for the infrastructure fund.
Adding co-investments, the fund will deliver up to approximately $2 billion of investable capital for its new strategy, which looks to originate operating infrastructure assets across Latin America, Africa and Asia. It also will look to drive operational improvements over a long-term hold period.
Actis has committed to several investments, including a 100-megawatt solar photovoltaic plant in Chile, and 137 megawatts of operational wind generation assets in Brazil, according to Actis. It also has identified a pipeline of other projects, valued at $8 billion.
Actis has raised more than $15 billion since the firm was established in 2004.
