A new Danish investor-backed private sector fund with an initial financial war chest of $550 million (Sh57.1 billion) has been launched, with an eye on mega infrastructure deals in Kenya and Africa.
A.P. Moller Holding, which controls Danish shipping giant A.P. Moller-Maersk, said in a statement the fund has received commitments of $550 million and aims to raise $1 billion (about Sh103 billion).
Its other backers are Danish pension funds PKA, PensionDanmark and Medical Doctors’ Pension Fund.
“Africa, with a working-age population likely to reach more than one billion people in the next decades, has a pressing requirement for more investments in infrastructure,” said Robert Mærsk Uggla, CEO of A.P. Moller Holding.
“In this respect, we are delighted to have established a new promising company in our portfolio with a strong team, who hold the right capabilities and experience to manage infrastructure investments in emerging markets.”
The fund has a life cycle of 10 years and initial target of 10 to 15 investments.
“PKA has for many years invested in infrastructure both in Denmark and abroad. We have positive experiences investing in Africa and we have for a long time wanted to invest more on the continent,” said Peter Damgaard Jensen, CEO PKA.
The fund will be managed by A.P. Moller Capital.