Argan Invest launches its regional fund
Argan Infrastructure Fund has an initial size of 750 MDH.
The first closing of this regional fund, with an initial size of 750 million dirhams and a target size of 2 billion dirhams, took place in August 2010. It will invest in infrastructure segments such as Energy, Utilities, ports, transport and logistics, telecommunications and infrastructure industries. With the aim of allocating 40% of its funds to Morocco, 30% to other North African countries and 30% to sub-Saharan African countries, ARIF fund will intervene as well in the new projects “Greenfield” as in the existing projects “Brownfield and Corporate”, in partnership with leading operators in their field of activity.
AfDB in a Moroccan investment fund
First equity commitment of the bank with a Moroccan Fund Manager which is Infra Invest, a subsidiary of Argan Invest.
The African Development Bank (AfDB) formalized last Wednesday in Rabat, its equity commitment in a Moroccan investment fund of 66 million euros, more than 729 million DH. The bank made a contribution of 15 million euros (nearly 166 million DH). A shareholders’ agreement has been signed between the organization and Infra Invest, a subsidiary of Argan Invest (the investment fund management platform of the FinanceCom Group).
“The AfDB generally engages in infrastructure projects with state agencies. This is the first equity commitment of the bank with a Moroccan investment fund management team.” says Amani Abou-Zeid, AfDB representative in Morocco.
The fund Argan Infrastructure Fund (ARIF) is dedicated to infrastructure investments in North Africa and sub-Saharan Africa for a duration of 12 years.