EAIF expands mandate to invest in South & South East Asia, officially becomes the Emerging Africa and Asia Infrastructure Fund (EAAIF)
- New name reflects the Fund’s ambition to invest over $1 billion in emerging Asian and
African economies over the next 4 years - EAAIF has committed over $2.5 billion and mobilised more than $16 billion in private sector
investment commitments to African infrastructure over the past 21 years - EAAIF to drive sustainable infrastructure development and climate resilience in Asia,
building on the Fund’s strong track record in Africa - EAAIF, an A2 Stable rated blended finance fund (Moody’s), to act as a gateway platform for
investors into the African and Asia infrastructure debt asset class.
London, 21 October 2024: The Emerging Africa Infrastructure Fund (EAIF), a Private
Infrastructure Development Group (PIDG) company, managed by Ninety One, has announced its
expanded mandate to stimulate sustainable infrastructure investment and growth in South and
Southeast Asia. EAIF has been consequently renamed the Emerging Africa and Asia Infrastructure
Fund (EAAIF).
Infrastructure development in Africa remains a core focus for the Fund’s objective to elevate Africa’s
competitiveness in the global economy. The Fund is one of Africa’s leading impact investors and the
principal provider of debt finance. The broader scope enables the Fund to catalyse transformative
infrastructure investment in dynamic growth markets in Africa and Asia, such as Indonesia,
Vietnam, Malaysia and to enhance the resilience of vulnerable communities in low and middle
income countries affected by the climate crisis.
Emerging markets in Asia have seen an acceleration of economic growth over the past two decades.
According to the Asian Development Bank (ADB), the region requires an estimated $1.7 trillion
annual infrastructure investment until 2030 to maintain its growth momentum, improve economic
conditions for its population and respond to climate change. Rapid urbanisation rates, climate
change, and extreme weather events make communities in Asia increasingly vulnerable to natural
disasters, parallel to current trends in Africa. Strategic investment in climate resilient infrastructure
is urgently required, particularly in areas such as transport, power, water supply, and sanitation.
EAAIF is uniquely positioned to mobilise capital at scale to accelerate the roll-out of high-impact
infrastructure projects in emerging markets. The Fund’s expansion complements PIDG’s
geographically diversified offering in Africa and Asia, which already provides guarantees;
early-stage infrastructure development activities by taking an equity stake in high-risk projects; and
technical assistance.
Philippe Valahu, Chief Executive Officer for PIDG remarked, “We are delighted to formally
expand the Fund’s mandate. The integrated approach will enable EAAIF to benefit from PIDG’s
expertise across the two regions and deliver impact at scale”.
Martijn Proos, Co-Head of EM Alternative Credit and Managing Director for EAAIF at Ninety
One, noted: “As sustainable infrastructure financing becomes a more significant priority for
countries across the globe, we are delighted to announce EAAIF’s expansion into Asia. This
expansion enables the Fund to further diversify its portfolio, and share expertise from the team’s
project, corporate and structured finance, asset management, and de-risking expertise across
geographies in Asia and Africa – creating economic opportunities that deliver impact and
commercially sound returns.
Driving EAAIF’s operations in Asia from Singapore, Roland Janssens, Managing Director, Ninety One
Esther Chan & Sumit Kanodia, Director, Ninety One, will spearhead the Fund’s origination and
execution efforts in the region.
Roland Janssens, Managing Director, Ninety One, said: “From a strategic base in Singapore,
EAAIF will seek to invest in transformative infrastructure projects in priority sectors such as
renewable energy, digital communications and transport. EAAIF will leverage PIDG and Ninety
One’s strong track record of investing in Asia to support EAAIF’s participation in Asian
infrastructure debt markets and accelerate the transition to a lower-carbon future”.
Ninety One, an active global investment manager, is EAAIF’s fund manager. It invests at the
intersection of return and impact and aims to deliver attractive risk-adjusted returns. Ninety One
manages a large portfolio of assets in Asia, through various private, corporate and sovereign debt
strategies. The strategic expansion of EAAIF is a significant step that will strengthen its balance
sheet, diversify its portfolio, and attract investors seeking exposure to infrastructure debt
opportunities in both Africa and Asia.