Infrastructure: Stanlib sets up R1.2bn fund

STANLIB Asset Management has introduced a R1.2 billion private equity fund to address a shortage of funding for infrastructure projects across sub-Saharan Africa. South Africa’s largest real estate investor said yesterday the Infrastructure Private Equity Fund had completed fund raising and would focus on privately developed projects. “The significant requirement in South Africa and across sub-Saharan Africa outstrips the availability of funding,” Greg Babaya, the head of infrastructure investment franchise, said. The fund will invest 70 percent in South African projects and look for chances in Ghana, Kenya, Nigeria, Uganda and Tanzania. Projects in renewable energy, oil, gas and transport would be covered. – Bloomberg