AIIM raises $954m in ‘biggest African fundraise in the last three years’

Cape Town-based African Infrastructure Investment Managers (AIIM) raised $748 million for its African Infrastructure Investment Fund 4, well above the $640 million hard-cap. Another $206 million was raised in co-investments. The previous fund in the series raised $400 million against a $750 million target, so this present oversubscription is a marked change, agrees Paul Frankish, AIIM’s head of strategic initiatives. “This is the biggest African fundraise in the last three years. A lot of the groundwork that we did by engaging with investors in the last...