New Actis infrastructure fund raises USD 1.23bn, targets LatAm renewables

The inauguration. Image by presidencia.cl.

August 15 (Renewables Now) - Growth markets investor Actis said on Wednesday it has raised over USD 1.23 billion (EUR 1.1bn) in commitments for its first Actis Long Life Infrastructure Fund (ALLIF), which plans investments in a Chilean solar park and wind farms in Brazil.

Following the fundraising, ALLIF can spend up to USD 2 billion, including co-investments. The fund’s investor base consists of institutional investors from North America, Europe, Latin America, Middle East and Asia.

ALLIF’s purpose is to originate operating infrastructure assets across Latin America, Africa and Asia. The fund has already identified and prioritised an USD-8-billion executable pipeline and pledged to invest in assets such as the 100-MW solar plant in Chile’s Atacama region that sells power to the Santiago Metro transit system, as well as 137 MW of operational wind farms in Brazil, according to the announcement.

Actis acquired the El Pelicano solar plant in Chile from SunPower Corp (NASDAQ:SPWR) in January 2018. The facility is located in the municipality of La Higuera within the region of Coquimbo.

Glen Matsumoto, who joined Actis in 2016, will lead the new fund. Weil, Gotshal & Manges LLP provided fund counsel.

(USD 1.0 = EUR 0.897)

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