INVESTMENT COMMITTEE

 PAUL BOYNTON

PAUL BOYNTON

Investment Committee
B.Sc (Hons) (Operations Research), MBA, CA(SA), FCMA, CGMA

Paul is the Chairman of the AIIF2, AIIF3 and AIIF4 Investment Committees.

Paul has been involved in investments, including managing listed equities, balanced funds and alternative assets for over 30 years.

Paul qualified as a CA with Deloitte in Johannesburg, following which he spent seven years as an Investment Banker with Investec before moving to Cape Town in 1995 to join Old Mutual. His earlier career was as a portfolio manager, managing balanced funds and listed equities, and included stints heading up the Old Mutual Investment Research team and as the PM responsible for Old Mutual Life’s $50bn portfolio, which was a vanguard investor in committing investment into unlisted equities, including private equity and infrastructure. In 2004 these initiatives in unlisted assets were formalized and Paul was appointed the founder CEO of Old Mutual Alternative Investments (OMAI). He was also involved in negotiating the formation of the African Infrastructure Investment Managers (AIIM) joint venture with Macquarie and became a founding director of AIIM in 2000. Both OMAI and AIIM have grown to become dominant in alternative assets and infrastructure investment in Africa since their formation.

Paul retired from Old Mutual at the end of 2021. He serves on various investment committees including the AIIF funds, various Old Mutual funds, Signature Agri funds and the Association for Savings and Investments South Africa (ASISA) enterprise and supplier development funds. He is a director of African Clean Energy Development, Ebuta, Faction Collective, Knockderry, Micaffe Capital Services and Signature Agri. He has previously served on the boards of AIIM, Assore, Coronation Investment Trust, J&J, Lesedi, Letsatsi, Life Healthcare, Metcash, Mezzanine Partners, Old Mutual Investment Group, Phembani, Pepkor, the Southern African Venture Capital and Private Equity Association, Tourvest and 10X.

Paul holds a BSc (Hons) degree in Operations Research and an MBA from the University of Cape Town.

JURIE SWART

JURIE SWART

Investment Committee
B.Sc Eng (Civil), B.Com, CA(SA)

Jurie is a member of the AIIF2, AIIF3 and AIIF4 Investment Committees and is responsible for reviewing and approving investment proposals, investment performance and exits.

Jurie has been involved with AIIM since its inception in 2000. He served as a Director on the AIIM Board from 2009 to 2020, as CEO from 2014 to 2020 and as an Exco member of Old Mutual Alternative Investments. He previously served as the portfolio manager of the IDEAS Fund and as a member of the IDEAS Investment Committee.

He has held directorships in various portfolio companies, amongst others, TRAC as Chairman, N3TC, Bakwena, Lekki, Matola Gas Company, G10 (which holds an ACSA shareholding), Bloemfontein Private Prison and various Renewable Energy project companies. He was also a Director of the African Private Equity and Venture Capital Association.

Jurie joined Old Mutual Investment Group (OMIG) as an equity analyst in 1999 before joining the infrastructure team and was appointed Head of Infrastructure and Development Assets for OMIG in 2007. He started his working career as a civil engineering contractor, working on large civil engineering projects before converting to finance.

As of August 2020, Jurie is working for a project developer and owner active in the natural gas and gas-to-power industry in Mozambique.

ALASSANE BA

ALASSANE BA

Investment Committee
M.Sc Economics; M.Sc Management of Banks

Alassane is a member of the AIIF3 Investment Committee and is responsible for reviewing and approving investment proposals, investment performance and exits.

Prior to joining AIIM in a non-executive role, Alassane was the CEO for Shelter Afrique based in Nairobi for five years between 2009-2014 where he led teams on investment strategy, deal sourcing, screening, negotiating, structuring and exits. Between 2015-2016, Alassane was the acting CEO of Africa50 Infrastructure Fund and under his leadership the Fund reached financial close of USD830m with a strong pipeline of projects and strategic partnerships. More recently he was the advisor to the Vice President of the African Development Bank within the private sector.

Alassane has experience as a non-executive board member having served on the board of Afreximbank between 2002 and 2005, as well as private equity funds such as Harith General Partners between 2007-2009. Alassane also sat on the Investment Committee of Emerging Capital Partners between 2006-2009.

 MIKE EDINGTON

MIKE EDINGTON

Investment Committee
B.Sc (Hons), M.Sc

Mike is a member of the AIIF2 Investment Committee and is responsible for reviewing and approving investment proposals, investment performance and exits.

Mike joined AIIM in 2012 as the Senior Director of Asset Management before taking up a non-executive role in 2015. He represents the AIIM-managed funds on the Boards of several infrastructure companies and is a Director on N3 Toll Concession, Bakwena Platinum Corridor Concessionaire and Kinangop Wind Park.

He originally trained as a civil engineer, specialising in transportation planning and after 14 years’ experience in the engineering industry, Mike joined the Development Bank of Southern Africa (“DBSA”). As head of the international department, Mike appraised investments in several Southern African countries and worked with other multinational funding agencies. He was responsible for DBSA’s first project finance investment into Trans African Concessions for the Maputo Toll Road.

On leaving DBSA, Mike joined Nedbank in their infrastructure project finance unit during which time he was their bid manager for the N3 Toll Concession and the lead arranger for the debt on the Bakwena Platinum Corridor Concessionaire project.

Prior to joining AIIM, Mike was head of the Aveng Grinaker- LTA (one of South Africa’s largest construction companies) concessions unit. The unit prepared bids for a number of concessions including the Port Louis (Mauritius) and N1/N2 Winelands (South Africa) toll roads. Mike represented Aveng on the board of N3 Toll Concession for five years.

VUYO NTOI

VUYO NTOI

Investment Committee
B.Com (Hons), M.Sc, MBA, AMP

Vuyo is a member of the Investment Committees of all AIIM’s managed funds.

Vuyo was appointed Co-Managing Director in August 2020. Vuyo has more than two decades of investment experience and has been involved in private infrastructure investing in Africa since 2003.

Prior to moving into the Co-Managing Director role, Vuyo was the Co-Portfolio Manager of the IDEAS Managed Fund, which primarily focuses on infrastructure investment and development assets in the SADC region, where he was primarily responsible for the post-acquisition management of the fund’s more than 30 investments, in addition to overall fund management.

Vuyo, who joined AIIM in 2003, was initially involved in the build-up of the South Africa Infrastructure Fund’s (“SAIF”) holdings in South African toll roads, including additional stakes in TRAC, N3TC and Bakwena. In addition, Vuyo was involved in the early refinancing of these toll road assets. Vuyo also played a leading role in AIIM’s pioneer investment outside South Africa, the Lekki Concession Company. More recently, Vuyo led the investment of AIIM Fund’s into Cenpower IPP power project Tema Ghana and Albatros Energy Mali power station, the first IPP in Mali.

Vuyo holds several directorships, including positions on the boards of some of AIIM’s portfolio companies. He is also a Trustee of the Africa Infrastructure Developers Association (AFiDA). Vuyo is a Director on the AIIM Board and is a member of the Executive Committee.

Prior to joining AIIM, Vuyo was an investment analyst and strategist in the Research and Investment Management team at ipac South Africa, an investment management and consulting company that was then within the Brait Group.

OLUSOLA LAWSON

OLUSOLA LAWSON

Investment Committee
B.Sc Economics (Hons), PGDip Law

Olusola is a member of the Investment Committees of all AIIM’s managed funds.

Olusola was appointed Managing Director and co-Head at AIIM, Africa’s largest infrastructure equity investment manager, in August 2020.

He has significant experience in corporate finance and infrastructure equity investing experience across European and African markets, with investing experience across the digital infrastructure, conventional power, renewable energy, gas midstream and transportation space.

Sola serves as a director on the AIIM Board and is a member of the Executive Committee of Old Mutual Alternative Investments, Africa’s largest alternatives manager.

He serves on several portfolio company boards, as well as the boards of the African Private Equity and Venture Capital Association (AVCA) and the African advisory council of the Global Private Capital Association (GPCA).

Prior to joining AIIM in 2011, he worked at Macquarie Group in the European Infrastructure Funds team in London focusing on investment opportunities across the transportation, energy and petrochemical storage space.

Olusola holds a BSc Economics (Hons) from University College, London.

KUDZAYI HOVE

KUDZAYI HOVE

Investment Committee
B.A, MBA

Kudzayi is a member of the AIIF3 and AIIF4 Investment Committees and is responsible for reviewing and approving investment proposals, investment performance and exits.

Kudzayi has over 20 years’ experience in investment banking, private equity and infrastructure investment in Africa. Kudzayi is currently the CEO of Amayi Foods Limited, a Nigerian based FMCG company that she co- founded. She previously headed up equity investments at Africa Finance Corporation (“AFC”), a development financial institution with a capital base of US$1.7 billion. At AFC, she oversaw the execution and management of investments in a variety of infrastructure related sectors including power, transportation, heavy industries, oil & gas, mining and telecoms. During this time, she grew AFC’s portfolio by 270% and expanded the organization’s ex-Nigeria investments to account for 50% of its total portfolio.

Prior to joining AFC, Kudzayi was a director at Emerging Capital Partners (“ECP”), an international private equity firm focused on investing across the African continent. ECP has more than $1.8 billion in commitments and a ten-year track record of investing in Africa through seven funds. At ECP, she led the execution of several transactions across Africa in financial services, telecoms, logistics and power.

Kudzayi has sat on several boards on behalf of ECP and AFC and is currently the Chairperson of the Board of Directors of Cabeolica S.A. Cabeolica is a 25MW wind farm in Cape Verde that commenced operations in 2012. It is the first commercial scale PPP for wind power in sub-Saharan Africa and currently provides about 20% of Cape Verde’s electricity.

BRADLEY KALIL

BRADLEY KALIL

Investment Committee
CFA® charterholder, BBusSc (Fin), CA(SA)

Bradley is the Chairman of the AIIM Board as well as a member of the AIIF3 and AIIF4 Investment Committees.

Bradley joined Old Mutual Alternative Investments at the beginning of 2020. As Chief Executive Officer he is responsible for the strategic development and investment management of the business, as well as managing key strategic relationships with stakeholders in the private and public sectors. He also heads up the Private Markets division of the Old Mutual Investment Group which comprises of seven business units.

Bradley started his career in the financial services division of KPMG before joining Old Mutual in 1998 as an assistant portfolio manager in the investment division of Old Mutual Life Assurance Company South Africa’s Investment Division.  He conceptualized and founded Old Mutual Specialised Finance (OMSFIN) in 2000 and later left to take up the position of Executive Director at Goldman Sachs in London.

Bradley returned to Old Mutual as Executive Personal Assistant to Roddy Sparks, the then CEO of Old Mutual South Africa and thereafter was appointed CEO of OMSFIN, the business responsible for Old Mutual Group’s market and credit risk management. He has been in this role for fifteen years, and as Head of Private Markets, continues to have oversight responsibilities for OMSFIN.

Bradley holds a Bachelor of Business Science degree from the University of Cape Town, and a Bachelor of Accounting Science from the University of South Africa, and is a qualified CA(SA) and CFA® charterholder.

DR PATRICIA RODRIGUES JENNER

DR PATRICIA RODRIGUES JENNER

Investment Committee
Ph.D. Chemical Engineering (Cambridge University)

Patricia is a member of the AIIF4 Investment Committee and is responsible for reviewing and approving investment proposals, investment performance and exits.

Patricia joined AIIF4’s Investment Committee in August 2021, leveraging her wealth of knowledge on sustainable infrastructure financing and renewable energy investment to further develop AIIM’s goal of contributing to universal energy access across Africa.

Patricia brings over two decades of infrastructure investment experience having held various positions at Macquarie Group. She was appointed Global Head of Product Development/Strategy in 2015 and previously served as a Director between 2005 – 2011. Building on decades of experience, Patricia co-created the world’s first green bank, the UK Green Investment Bank. Her cross-sector expertise in engineering and finance makes her an invaluable asset as a committee member and non-executive director across various institutions, including the UK GLIL Infrastructure fund, Legal and General Assurance Society Limited and Aquila European Renewables Income Fund plc. Patricia began her career in finance with Morgan Stanley and is a Member of Chapter Zero.

She holds a Ph.D. in Chemical Engineering from Cambridge University, a post-doctorate in gas storage and separation processes from Bath University and studied Environmental Engineering at Porto University.