Private equity fund backed by two of South Africa's richest men raises $345M to invest in Africa

Johann Rupert is South Africa’s richest man (According to Forbes in 2014), Chairman of the luxury goods company Richemont, and Chairman of investment company Remgro.

Pembani Remgro Infrastructure Fund, founded by two of South Africa’s richest men, has raised $345 million to invest in electricity generation, transport and logistics in Africa.

An executive of the fund created by the two South Africans billionaires was quoted by Bloomberg as saying that “the fund raised $245 million and can access a further $100 million from the U.S. government’s Overseas Private Investment Corp.

CEO of the fund, Herc van Wyk said the fund’s aim is to raise up to $500 million.

“We see interesting opportunities coming up in the infrastructure space,” van Wyk said. “The opportunity, first and foremost, is power generation.”

Read more: Johann Rupert-backed Fund raises $ 345 Mln for Africa | Medafrica Times