Meridiam Closes Additional Funding Round For Its Infrastructure Africa Fund
After the reopening of its Meridiam Infrastructure Africa Fund (MIAF), Global investor Meridiam has announced the closure after raising a total amount of USD 613 Mn which is above its initial target of USD 573 Mn.
With this closing, this asset manager consolidates its position as the leading investment platform on the African continent for greenfield infrastructure projects that have a positive impact on the climate, the environment and communities.
Meridiam’s MIAF fund is more than 70 percent supported by private investors, including leading European pension funds and insurers. As well as by leading development finance institutions, for the remaining 30 percent.
The reopening of the fund was subscribed to by 50 percent of the historical and existing partners, which demonstrates their confidence in the quality of the projects carried out but also in the prospects for future investments. It also depicts the passion and confidence Meridiam partners have for this fund
Meridiam is a global investor and asset manager specializing in public and community infrastructure with a long-term view. Founded in 2005, the company is an independent player committed to aligning the interests of all stakeholders. In 2015, the global investor launched Meridiam Infrastructure Africa Fund (MIAF) to make long-term investments in African infrastructure.
Regarding this, Thierry Déau, CEO of Meridiam said: “The Africa Fund reflects our ambition, strategy and expertise: to develop and invest in sustainable and resilient infrastructure projects that improve the quality of people’s life and provide them with essential services. We are already involved in emblematic projects in Africa for a total amount of more than USD 3.4 Bn. Today, by more than doubling the size of our fund, we are taking our ambition for the development of the continent even further and acting for future generations.”
In Africa, Meridiam has a team of 20 people working in two regional offices in Senegal and Ethiopia.
This fund has already financed and developed 14 major projects for Africa amounting to more than EUR 3 billion, including: 4 solar power plants in Senegal for a total of 140 MWp, Tulu Moye geothermal power plant in Ethiopia, mineral port of Owendo in Gabon and the container port of Nouakchott in Mauritania, Biokala biomass power plant in Cote d’Ivoire, rehabilitation and extension work of Madagascar’s two main airports, construction and operation for 30 years of a highway linking Nairobi and Mau Summit to Kenya, among others.
Meridiam develops projects in OECD countries by working closely with public authorities at every stage of their projects.
The Africa Fund is the first Meridiam portfolio to systematically apply to all its projects the sustainable development criteria and objectives established by the United Nations in 2015 (UN SDGs). All projects carried out by Meridiam are SDG 9 certified according to UN standards.
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