A.P. Moller Holding has launched Africa Infrastructure Fund I, according to news sources.
PensionDanmark, PKA and Lægernes Pension are founding investors in the new fund, having committed a total of $550 million to the fund already.
The fund focuses on transportation and energy infrastructure investments in Africa. The new fund will be open for Danish and international investors for the next 12 months and has a target lifetime of roughly 10 years, with an initial target of 10 to 15 investments total. The fund aims to raise $1 billion in total equity commitments, according to sources.
“Africa, with a working-age population likely to reach more than 1 billion people in the next decades, has a pressing requirement for more investments in infrastructure,” said Robert Mærsk Uggla, chief executive, in a statement.
A.P. Moller Holding is a wholly-owned fund established in 1953 by the founder of A.P. Moller Maersk with approximately $20 billion of assets under management.