Meridiam announces closing of Africa fund reopening at €546 million

By Sarah Lizee

Olympia, Wash., March 28 – Meridiam closed the November reopening of its Meridiam Infrastructure Africa fund for a total amount of €546 million, above its initial target of €510 million, according to a press release.

Launched in 2015 for an initial amount of €207 million, the initial commitment has already been fully invested two years before the end of the investment period, the company said.

At the end of this closing, it is now 2.5 times bigger than at the beginning.

Meridiam said the fund is more than 70% supported by private investors, including leading European pension funds and insurers, as well as by leading development finance institutions, for the remaining 30%.

The 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, and has already financed and developed 14 major projects for Africa amounting to more than €3 billion.

“This operation demonstrates the strong enthusiasm and confidence of Meridiam's partners for this fund, the proposed projects and the important development prospects in Africa,” the release said.

“With this closing, Meridiam 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.”

The reopening of the fund was subscribed to by 50% of the historical and existing partners.

Paris-based Meridiam is an independent investment firm specializing in the development, financing and management of long-term and sustainable public infrastructure projects.

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