Ninety One Raises $260M in First Close of Africa Private-Credit Fund
TLDR
- Ninety One's Africa Credit Opportunities Fund 3 secures $260 million with key investors like IFC and SIFEM.
- ACO Fund 3 focuses on private credit investments in leading companies and infrastructure in Africa and emerging markets.
- Sustainability-linked loan from Standard Bank emphasizes climate and social impact targets for innovative financing approach.
Ninety One has announced the first close of its Africa Credit Opportunities (ACO) Fund 3, with $260 million in committed capital. Anchor investors include the International Finance Corporation (IFC), British International Investment, and the Swiss Investment Fund for Emerging Markets (SIFEM), managed by responsAbility, alongside a $45 million sustainability-linked loan from Standard Bank.
The fund will focus on private credit investments in market-leading companies and infrastructure across Africa and emerging markets, aiming to deliver competitive returns while fostering sustainable development.
The sustainability-linked loan ties funding costs to achieving climate and social impact targets, demonstrating an innovative approach to financing. Led by portfolio managers Steven Loubser and Kobina Sam, ACO Fund 3 builds on Ninety One’s long-standing strategy of supporting growth and infrastructure companies in emerging markets.
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Key Takeaways
The launch of ACO Fund 3 highlights the increasing role of private credit in driving economic growth in Africa. By targeting infrastructure gaps and market-leading companies, the fund aims to create jobs, enhance access to finance, and promote environmental sustainability. The inclusion of a sustainability-linked loan further aligns financial returns with measurable impact, reflecting a shift towards responsible investing in emerging markets.
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