African Infrastructure Investment Fund 4 (AIIF4), managed by African Infrastructure Investment Managers (AIIM), has added a $116 million joint investment from British International Investment (BII) and FMO, according to several news sources.
BII, the United Kingdom’s development finance institution, committed $76 million to the fund and FMO, the Dutch entrepreneurial development bank, committed $40 million.
AIIF4, AIIM’s fourth pan-African fund, has a target fund size of $500 million. The vehicle will invest in high-impact infrastructure projects across Africa, focusing on three priority infrastructure subsectors: renewable energy, digital infrastructure, and mobility and logistics.
The fund also previously received a cornerstone investment from Old Mutual, the fund manager’s sponsor and a prominent African financial services group.