Private equity group Actis has reassured that much of the money it was seeking for its $2.9bn emerging markets fund has already been secured, in spite of the tougher economic climate.
The fund, known as Actis Emerging Markets 3 (AEM3), is planning to target investments into the energy, transport and telecoms sectors of Africa, China, India, South America and South East Asia.
Peter Schmid, head of Africa for Actis, added however that the continent is likely to receive the majority of the investment, given the huge backlogs in infrastructure in Africa. He added that Actis may be interested in supporting consortiums bidding to establish independent power producer (IPP) capacity in South Africa.
Actis previously said that it expected to invest as much as $1-billion into Africa, with more than half of that to flow towards buyout and growth deals in South Africa.
