Infra Impact Investment Managers, a South African private markets investment firm, has completed the final closing of its Infra Impact Mid-Market Infrastructure Fund 1. The vehicle exceeded its fundraising target of ZAR 1.5 billion ($82 million) and closed at ZAR 2.15 billion ($115 million).
The investor group consisted of a well-diversified array of 14 prominent limited partners, including local funds of funds, university foundations, insurers, banks, pension funds and an esteemed international development finance institution.
Fund 1 invests in businesses that own real assets, which provide essential services and have value-creation potential. The fund is deployed in line with the team’s value-add mid-market infrastructure strategy focused on the water, waste, energy, telecommunications and related sectors. It already has allocated nearly ZAR 300 million ($16 million) across four strategic investments: Eagle Towers, Cybersmart, Maru Towers and Rhino Energy.