UK-based Acre Impact Capital has touched first close on its Africa-focused specialist debt vehicle, raising 33.3% of the final targeted amount.
The investor has brought in $100 million for the first close of Acre Export Finance Fund I, which is 33.3% of the $300 targeted at final close. The lower limit for the fund has been set at $200 million.
Acre Impact Capital has raised capital from institutional investors, development finance institutions (DFIs), family offices and impact-first investors.
LPs in the fund include European Investment Bank (EIB) and FSD Africa Investments.
Other LPs include US-based family office investor Ceniarth and a US-based family office backed fund of funds investor Trimtab Impact.
“We are incredibly proud to have received support from our limited partners, who have backed our pioneering Export Finance Fund I. The current credit environment creates attractive opportunities for discerning investors, while addressing the urgent need for funding for climate-aligned infrastructure projects.” said Hussein Sefian, chief executive officer at Acre Impact Capital.
Acre Export Finance Fund I will look to back infrastructure deals with leaning towards energy including electricity, gas, steam and air conditioning.
The fund will also invest infrastructure deals across water and sewerage sectors primarily focusing on water supply, sewerage, waste management and remediation.
Acre Export Finance Fund I will also invest infrastructure deals focusing on transportation and storage sectors across Africa.
The fund will provide commercial loans alongside loans secured by export credit agencies.
Acre Impact will look to back about 15 to 20 companies from the fund.
Please see full data on this fund here
Courtesy of Debt Investor Africa
