A group of investors led by South African private equity firm Harith General Partners agreed to buy out an infrastructure fund with stakes in assets including Lanseria International Airport and Kelvin Power Station for 6.5 billion rand ($360 million).
The deal provides an exit opportunity for investors in the first Pan African Infrastructure Development Fund, which includes the continent’s largest pension fund — South Africa’s Government Employees Pension Fund — along with Absa Bank Ltd., Old Mutual Ltd. and others. Harith will team up with Mergence Investment Managers and Zungu Investments Ltd.