Denton Wilde Sapte is advising on the creation of a private equity fund that will focus exclusively on power and related projects in Africa.

Funds and financial ­markets partner Rosali ­Pretorius led the Dentons team, working alongside tax partner Jeremy Cape.

The African Energy ­Infrastructure fund, which aims to raise $500m (£354.05m), has been set up as a joint venture between investment bank Fieldstone and asset manager Prescient Investment Management. The African Development Bank has already taken a major stake in the fund.

“The fund’s likely to invest in some of the most important projects that will be vital for Africa’s development in the future,” said ­Pretorius. “The fund’s goal isn’t just to generate an attractive return for investors, but also to strengthen local capital markets by investing in companies that will provide steady long-term returns for their shareholders.”