African Infrastructure Investment Managers (AIIM), Africa’s largest dedicated sustainable infrastructure equity manager, has completed the final close of its fourth pan-African infrastructure fund, African Infrastructure Investment Fund 4 (AIIF4).
The fund reached its hard cap, raising $748 million raised from a diverse investor base with an additional $206 million approved for co-investments alongside the fund. This brings the total amount of commitments to $954 million.
Investments came from a total of 29 investors, with around 25 percent of funds raised from institutional investors in Africa, 42 percent from E.U. countries and the United Kingdom, 14 percent from Canada and the United States and 17 percent from the Middle East and Asia. The investor base was composed of pension funds, insurance companies, sovereign wealth funds, asset managers and family offices, with 50 percent of commitments from DFI investors.
AIIF4’s fundraising exceeded its target by