The PAIDF 2 Infrastructure Top-Up Fund is a shorter-term
vehicle (5-to-6 years) that is being established to take advantage of very
near-term expansion opportunities in some of the best performing PAIDF 2
portfolio companies.
It is expected to realise a mature pipeline of high-quality
infrastructure opportunities for investors.
Harith’s PAIDF 1 & PAIDF 2 portfolio companies include
Aldwych Holdings Limited, CIVH, MainOne, Lanseria International Airport,
Beitbridge Border Post, among others.
The capital raised will be invested in existing PAIDF
portfolio company expansion opportunities as well as in selected key new
pipeline deals and strategic infrastructure investment opportunities. These
opportunities are both pre-determined and existing.
Since 2007, PAIDF 1 has recorded a 36% increase in the USD
amount invested. The fund had a Portfolio Valuation of US$742,9 million on 31
December 2020. PAIDF 2 has recorded an 84% increase in the USD amount invested
and had a portfolio valuation of US$471,8 million on 31 December 2020.
Sipho Makhubela, CEO Harith General Partners said: “Rather
than just investing in potential future projects, our PAIDF 2 Top-Up Fund
provides investors with immediate exposure to established, world-class assets
that are generating returns today and an experienced management team that has
been together for more than a decade, making investments in some of the most
difficult environments on the continent.
“Harith is therefore uniquely positioned to capitalise upon
the critical infrastructure requirements presented by the African Continental
Free Trade Area (AfCFTA).
”The PAIDF 2 Top-Up fund will further invest in up to
eight-core strategic transactions that will strengthen capacity to leverage
large-scale future projects.
”It will allow Harith to scale up its existing position in
some of the best portfolio companies in the PAIDF Portfolios.”