The manager of Fund I is Pembani Remgro Infrastructure Managers Proprietary Limited, which is owned jointly by Remgro Limited, Phuthuma Nhleko and the investment team. Pembani Remgro is based in Johannesburg. Collectively, the investment team has over 200 years of global infrastructure investment experience and broader investment and transaction execution experience in Africa. Fund I and Pembani Remgro were established during 2012, and the fund received its initial capital from Remgro and Phuthuma Nhleko as cornerstone investors. Since then the key focus of the investment team has been to source and acquire investments, and the team has been successful in closing a number of investments.

The principal investment objective of the Fund is to make equity, quasi-equity and equity-related investments in private infrastructure (and related industry) companies and projects headquartered in, or whose businesses or operations are located or conducted primarily within Africa.

The Fund’s investment strategy targets greenfield and brownfield or secondary transactions, as well as investments in companies that provide engineering services and logistics within the private infrastructure sector. In the case of greenfield transactions, the Fund does not take early stage development risk. The Fund does not invest in oil, gas or mineral extraction or primary agriculture but focuses on the infrastructure around these businesses. Emphasis is placed on contracting with private sector entities that meet the Fund’s high due diligence, financial returns and credit criteria.

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