Actis fund oversubscribed as investors seek out expertise


Issue 268 - 20 Dec 2013 | 1 minute read

Emerging markets investment firm Actis announced on 9 December that it had closed its third energy fund, Actis Energy 3. The fund was heavily oversubscribed, raising a total of $1.15bn from an investor base including public pension funds, sovereign wealth funds and high-net-worth families, exceeding its original target of $750m by 50%. Looking to spread the fund across emerging markets, Actis has committed $560m to four deals in South America and Africa. This includes a 56% share in Cameroonian power utility Société Nationale d’Electricité from AES for $220m, and an agreement to acquire Morocco’s water, waste water and electricity services from Veolia Environnement.

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