Atta Africa Financial Update

Executive summary: A group of Danish pension fund investors have committed US$550m to African infrastructure through a fund launched by the family foundation behind the country's iconic shipping business, Maersk.

PensionDanmark, PKA and Lægernes Pension, three of the Nordic nation's largest retirement schemes, have become the founding investors in the Africa fund, which has a target of raising US$1bn over the next 12 months.

The fund will be run by a newly-formed team within AP Møller Holding, which is the investment arm of the AP Møller Fund, the family foundation of the founders of Maersk.

The new fund will focus on investments in Africa's transport and energy infrastructure. It is run by a team led by Kim Fejfer, the former chief executive of Maersk's container-terminals division, APM Terminals.

The AP Møller Fund, established by Maerk's founder Arnold Peter Møller in 1953, owns a 41.5% stake in the shipping group and a 20% stake in Denmark's biggest bank, Danske Bank.

Fact: Maria Sharapova, Conan O’Brien, and 'Flea' from the Red Hot Chili Peppers are, among others, shareholders in the UFC.

Norfund to back responsAbility's energy-focused investment platform

 
  • The Nordic Development Fund and Norfund have agreed to invest a combined total of US$19 million in an energy-focused investment platform owned by development asset manager responsAbility Investments
  • The capital will be targeted at small and renewable energy projects across sub-Saharan Africa, typically with up to 50MW in generating capacity

Acorn Group and Helios to construct US$68 million hostels in Kenya

 
  • 3,800 hostels worth US$ 68m are set to be constructed in Nairobi, Kenya
  • The project will help bridge the current student housing gap in the country
  • Acorn Group and private equity fund Helios are the lead investors behind the mega development - the International Finance Corporation (IFC) will partly fund the construction of the hostels

Secha Capital to back Stoffelberg Biltong

 
  • Secha Capital VCC, a 12J investment vehicle, is backing Stoffelberg Biltong in an undisclosed deal
  • Secha Capital views South Africa’s biltong market as being large and fragmented - the firm sees an opportunity to build a producer of high quality products and reinvigorate the market