The new Actis fund will concentrate its work on combined cycle power projects; wind power generation projects with build, own, operate (BOO) systems; and solar energy projects, reported Hapi Journal, citing a senior official.
Actis is also targeting investment in water desalination and treatment projects with its $1.2 billion infrastructure fund, stated Partner and Head of Mena Sherif El Kholy.
The fund will be limited so that sovereign funds, major international pension funds, and major financial institutions will be the only organizations able to participate in the fund, said the official.
Actis, he stated, was open for the Sovereign Fund of Egypt (SFE) to join their new fund, noting that both parties have previously signed a MoU for cooperation in multiple sectors.
The fund is likely to be up and running by the year-end, stated El Kholy, adding that they are currently completing the fund’s subscription.
Subscription will only be available for sovereign funds, international pension funds, and large financial institutions, he added.
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