Our Funds

SOUTH AFRICA INFRASTRUCTURE FUND (SAIF)

 
 
Fund status Fully realised
Fund size USD1 855 million
Fund close Main Fund - May 1996 Sub Fund 1 - May 2010 Sub Fund 2 - Oct 2010 Sub Fund 3 - Jun 2011 Sub Fund 4 - Dec 2013
Fund maturity June 2016
Description

SAIF was the first 20-year infrastructure fund in South Africa. On appointment as the fund manager in 2000, AIIM exited the underperforming portfolio and developed a portfolio of toll road concessions with operations and governance on a part with those seen in developed markets.

AIIM established a series of Sun Funds to allow investors to participate in follow-on opportunities as co-investments alongside the Main Fund.

The Fund successfully exited its mature toll road investments in 2016 having managed them through the full investment life cycle. The exit represented the largest private equity realisation for toll road infrastructure in Africa to date.

Investments

Bakwena Platinum Corridor Concessionaire, South Africa
62% indirect interest in 385km toll road (exited 2016)

N3 Toll Concession, South Africa
38% interest in 415km toll road (exited 2016)

ICO Global Communications Holdings, South Africa
1% interest in a mobile communications provider (exited 2012)

Ucingo Trust, South Africa (Exited 2016)
38% interest in 415km toll road 

Trans African Concessions, South Africa & Mozambique (Exited 2016)
50% interest in 570km toll road 

African Portland Industrial Holdings, Mozambique and Namibia (Exited 2003)
34% interest in port and logistics terminals 

Trans Africa Railway Corporation, Tanzania (Exited 2004)
48% interest in a rail transportation development 

Kilimanjaro Airport Development Company, Tanzania (exited 2009)
30% interest in an international airport development 

Comazaar, Pan Africa (Exited 2003)
31% interest in a commercial rail network