ZAR1 855 million
Main Fund - May 1996 Sub Fund 1 - May 2010 Sub Fund 2 - Oct 2010 Sub Fund 3 - Jun 2011 Sub Fund 4 - Dec 2013
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 par with those seen in developed markets.
AIIM established a series of Sub-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.
Bakwena, South Africa (Exited 2016)
62% indirect interest in a 385km toll road
N3TC, South Africa (Exited 2016)
38% interest in a 415km toll road
ICO Global Communications, USA (Exited 2012)
1% interest in a mobile communications provider
Ucingo, South Africa (Exited 2016)
8% interest in a 415km toll road
TRAC, South Africa & Mozambique (Exited 2016)
50% interest in a 570km toll road
API Holdings, Mozambique and Namibia (Exited 2003)
34% interest in a port and logistics terminals
TARC, Tanzania (Exited 2004)
48% interest in a rail transportation development
KADCO, Tanzania (Exited 2009)
30% interest in an international airport development
Comazar, Democratic Republic of Congo, Tanzania, Cameroon, Cote d'Ivoire, Madagascar (Exited 2003)
31% interest in a commercial rail network