So, get this, South African asset manager Ninety One Ltd. is planning to toss over $1 billion into some major infrastructure projects in Africa and Asia by 2028. How are they going to pull this off, you ask? Well, they recently snagged some debt from global financial institutions. Talk about a power move.
According to Martijn Proos, the co-head of emerging market alternative credit at Ninety One, their Emerging Africa & Asia Infrastructure Fund (EAAIF) managed to raise a whopping $325 million in debt during their latest round that wrapped up in March. And get this, big players like Allianz Global Investors, Standard Bank Group Ltd., and Absa Group Ltd. all jumped on board. That’s not all, they also secured another $295 million in debt, bringing their total commitments to a cool $620 million. Now, that’s what I call making it rain.
Proos spilled the beans in an interview, saying, “We have well over a billion dollars worth of pipeline over the next two to three years.” Looks like Africa is going to take center stage in their growth strategy. And hey, can’t blame them. Africa is where it’s at right now.
Last year alone, EAAIF pumped around $350 million into about 13 projects, spreading the love between Asia and Africa. They’re eyeing sectors like renewable energy and digital infrastructure for their next moves. And guess what? Absa, a big player in the game, chipped in $75 million in the latest round. They’re all about supporting infrastructure growth in Africa, especially with all the political drama going on. Kudos to them for stepping up to the plate.
But hold on, the fun doesn’t stop there. Sumitomo Mitsui Banking Corp. from Japan and Sweden’s Swedfund International AB also hopped on the debt-raising train. It seems like everyone wants a piece of the action when it comes to building roads, ports, and power plants in these booming economies. And who can blame them? Infrastructure is the name of the game when it comes to spurring economic growth and creating jobs for the masses. It’s a win-win situation for everyone involved.
Alright, so maybe you’re not really sure why this matters, but here’s the deal. Ninety One is making some serious moves in the infrastructure game, and Africa and Asia are about to get a major facelift. With over a billion dollars in the pipeline, it’s safe to say that big things are on the horizon. So, buckle up and get ready for some serious development because Ninety One is about to shake things up in a big way.
And hey, maybe it’s just me, but I feel like this is just the beginning. With more and more financial institutions jumping on board, the future looks bright for infrastructure development in these regions. Who knows, maybe we’ll see some groundbreaking projects that will change the game for everyone involved. One thing’s for sure, Ninety One is definitely a force to be reckoned with in the world of infrastructure investment.
