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ACOF I

The Investec Africa Credit Opportunities Fund is a USD 350m (target) sector-agnostic debt fund that invests in a range of credit opportunities in Sub-Saharan Africa. The Fund has a pioneering focus of anchoring new issuances of debt, and aims at constructing a portfolio of approximately 30 loans and bonds to companies across Sub-Saharan Africa.

ACOF I

The Investec Africa Credit Opportunities Fund is a USD 350m (target) sector-agnostic debt fund that invests in a range of credit opportunities in Sub-Saharan Africa. The Fund has a pioneering focus of anchoring new issuances of debt, and aims at constructing a portfolio of approximately 30 loans and bonds to companies across Sub-Saharan Africa.

About the fund

There is a major demand and supply mismatch for debt credit in the Sub-Saharan African markets. As a consequence, companies are often unable to access institutional sources of finance, whereas institutional investors, such as pension funds and insurers, are left with a limited set of investment opportunities. Credit markets provide an efficient mechanism for matching the two. In most parts ofSub-Saharan Africa credit markets are shallow and nascent, and there is not enough volume to meet the requirements of market participants. In these markets new issuance of debt is critical to build market infrastructure. The Fund aims at deepening credit markets and in turn is expected to make contributions to financial sector development, private sector development, and job creation in middle and low income countries.

The Fund is managed by the dedicated Africa credit team of Investec Asset Management, a leading South African financial institution with a strong regional track record and reputation. The Fund benefits from an experienced and specialist credit team. The key individuals have many years of experience in banking and portfolio management, and a diverse range of credit skills. Investec is committed to environment, social and governance (ESG) at the highest levels of the organisation, and it is a signatory of the United Nations Principles for Responsible Investment.  ESG standards are fully integrated in the Fund’s investment process.

Investments by the fund

             
Date Name Country Industry Status
2019 Company 1 Rwanda Travel and leisure Active
2019 Company 2 Nigeria Other industrial services Active
2020 Company 3 Kenya Transportation and storage Active
2019 Company 4 Cayman Islands Other financial services Active
2018 Company 5 Mauritius Transportation and storage Active
2018 Company 6 Mozambique Real estate Active
2020 Company 7 Mauritius Technology hardware and equipment Active
2015 Company 8 Nigeria Wholesale and retail sale Active
Reference code
2014-05
Status
Active
Date of commmitment
December 2014
Date of exit
-
Fund size
USD
350,000,000
SIFEM commitment
USD
12,000,000
Asset class
Private Debt
Investment strategy
Investment through Fund
Fund manager
Investec Asset Management