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.”