Infra Impact selects Prescient Fund Services for infrastructure fund administration
Infra Impact Investment Managers Proprietary Limited (Infra Impact), a boutique infrastructure investment firm, has selected Prescient Fund Services Proprietary Limited (Prescient) as the Fund Administrator for its first infrastructure fund, the Infra Impact Mid-Market Infrastructure Fund 1.
Infra Impact Investment Managers Proprietary Limited (Infra Impact) is a specialised infrastructure and impact investment management business. The new fund, Infra Impact Mid-Market Infrastructure Fund 1 aims to provide growth capital for South African focused midmarket infrastructure businesses, which own real assets that provide essential services and have value creation potential to enable the infrastructure of tomorrow. Infra Impact typically secures significant minority stakes in investee companies and projects and have a focus on the water, waste, green energy, telecommunications infrastructure and related sectors.
In addition to investor returns, impact investment outcomes include job creation, addressing Sustainable Development Goals (SDG’s), reduction of CO2 emissions, clean water and sanitation, green energy and access to telecommunications services.
The Infra Impact Mid-Market Infrastructure Fund 1 has been seeded by Thuso Incubation Partners (Thuso), a South African dedicated black-majority-owned private equity incubator. In line with Thuso’s mission statement, the fund has embedded BBBEE and ESG principles.
Co-Founders of Infra Impact, Mark van Wyk and Morné Edas, say: “We are proud of achieving our first close in a challenging environment against a backdrop of the Covid-19 pandemic. We believe that our Fund investments will allow entrepreneurs to contribute to creating sustainable economic growth and job creation.”
“We are proud to partner with Mark, Morné and their team,” says Hayden Reinders, Head of Business Development and Client Management at Prescient in Cape Town. “The investment strategy and ethos in terms of impact investing and empowerment is particularly relevant to forward thinking investors. Prescient is excited to be part of the start-up phase in the launch of their business and we look forward to supporting them as they grow.”