Fund manager (General Partner), infrastructure and transport. Assets under management: ≈ USD 2bn.
Criteria published by the fund, recorded and checked by Invest Matching.
- Investment ticket
- 30 M$ – 150 M$
- Instruments
- Equity
- Preferred sectors
- Infrastructure (all), Logistics, Energy, Water & environment*, Real estate*, Telecoms & digital infrastructure*, Transport & civil engineering*
- Target geographies
- Nigeria, Ghana, Côte d'Ivoire, Kenya, Senegal, South Africa, Cape Verde*, Gabon*
* added from its deals
- Stages (stated by the fund and from its deals)
- Growth
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Mainstream Renewable Power South Africa
June 2026 · South AfricaSigned, conditions pendingGrowthUndisclosed amountEquityEnergyLead
Agreement of 17 June 2026, subject to regulatory and third-party approvals.
Activity : Renewable power plants: solar, wind, hydro, geothermal, biogas
Instrument : Purchase of 100% by the Emerging Markets Infrastructure Fund II: 148 MW operating or under construction, 351 MW construction-ready, 11.6 GW in development; price not disclosed · Vehicle : Emerging Markets Infrastructure Fund II
Development, construction and trading of renewable power.
Why they invested
- Renewable platforms and power trading
Source : globenewswire.comN1 · Primary source · Other sources : SAPVIA
Recent public deals: they say better than a thesis what the fund actually signs.
August 2023 · South Africa GrowthUndisclosed amountEquityLogisticsLead
Activity : Warehousing and cold chain
Announced March 2023, completed August 2023 — 5 months from announcement to closing
Instrument : Acquisition (divestment by RCL Foods), undisclosed amount
South Africa's leading frozen logistics operator, sold by RCL Foods: multi-temperature warehousing and distribution, supply-chain intelligence; 26 warehouses, 7,000 employees, 470,000+ cases delivered daily; operating in South Africa, Namibia, Zambia and Botswana.
Why they invested
- National cold-chain leader, a growth platform in Southern Africa
- Divestment by a group refocusing its portfolio (RCL Foods)
- The fund's network and logistics experience, technology and ESG upgrade
Team
- Chris Creed — Managing Director
Source : africaprivateequitynews.com
KEG Holdings
March 2022 · KenyaGrowthUndisclosed amountEquityEnergyCo-Invest
Activity : Fuel and LPG distribution
Instrument : Acquisition d'une participation de 29 % · Vehicle : Africa Infrastructure Fund I K/S
KEG operates an LPG import and storage marine terminal and a downstream distribution business in East Africa.
Why they invested
- Support the switch from charcoal and wood to LPG
- Major LPG import infrastructure in East Africa
- Regional expansion into Rwanda and Uganda
Source : apmollercapital.comN1 · Primary source
Thika Power
March 2022 · KenyaGrowthUndisclosed amountEquityEnergyLead
Activity : Power generation (utility-scale)
Instrument : Acquisition · Vehicle : Africa Infrastructure Fund I K/S
87MW thermal power plant near Nairobi supplying the Kenyan grid.
Why they invested
- Second Kenyan power investment, after Iberafrica
- Reliable baseload capacity for the grid
- Potential conversion of the assets to gas
Source : apmollercapital.comN1 · Primary source
Cabeolica
October 2021 · Cape VerdeGrowthUndisclosed amountEquityEnergyCo-Invest
Activity : Renewable power plants: solar, wind, hydro, geothermal, biogas
Instrument : Acquisition d'une participation · Vehicle : Africa Infrastructure Fund I K/S
Cabeolica operates four wind farms on four Cape Verdean islands, the country's largest IPP and renewable producer.
Why they invested
- Increase renewable generation in Cape Verde
- Reduce dependence on imported oil
- Operating asset with grid-management upside
Co-investors Africa Finance Corporation
Source : apmollercapital.comN1 · Primary source
Eranove
August 2021 · Côte d'IvoireGrowthUndisclosed amountEquityEnergyCo-Invest
Activity : Power generation (utility-scale)
Instrument : Via la holding ECP Power & Water Holding · Vehicle : Africa Infrastructure Fund I K/S
African industrial group in power and water, notably in Côte d'Ivoire.
Why they invested
- Reliable, lower-carbon power supply
- Growing electricity demand in Africa
- Critical infrastructure for economic development
Co-investors DEG, Emerging Capital Partners, IFU
Source : apmollercapital.comN1 · Primary source
Lumika Renewables
May 2021 · South AfricaGrowthUndisclosed amountEquityEnergyCo-Invest
Activity : Commercial & industrial energy
Instrument : Coentreprise avec Reunert · Vehicle : Africa Infrastructure Fund I K/S
Joint venture that develops, builds and finances renewable energy solutions for commercial and industrial customers in Africa.
Why they invested
- Address high energy costs for African businesses
- Financed solar solutions for C&I customers
- Reunert's expertise combined with A.P. Moller Capital's African network
Co-investors Reunert
Source : apmollercapital.comN1 · Primary source
Iberafrica Power (E.A.) Limited
April 2020 · KenyaGrowthUndisclosed amountEquityEnergyLead
Activity : Power generation (utility-scale)
Instrument : Acquisition · Vehicle : Africa Infrastructure Fund I K/S
52.5MW independent thermal power plant in Nairobi selling electricity to the national grid.
Why they invested
- A.P. Moller Capital's first investment in Kenya
- Platform for further Kenyan power investments
- Reliable generation in a growing market
Source : apmollercapital.comN1 · Primary source
ARISE Ports & Logistics
January 2020 · GabonGrowthUndisclosed amountEquityTransport & civil engineeringLead
Activity : Ports, airports and rail
Instrument : Participation de 43 % (Olam 31 %, AFC 26 %) · Vehicle : Africa Infrastructure Fund I K/S
Port and logistics infrastructure platform in West and Central Africa: mineral and general cargo ports in Gabon, new ports in Nouakchott and San Pedro.
Why they invested
- Port, trucking, warehouse and rail ecosystems that facilitate trade
- Expansion in Gabon, then new ports in Mauritania and Côte d'Ivoire
- Partners Olam and Africa Finance Corporation; CDC Gabon co-invests in Gabon
Co-investors Africa Finance Corporation, Olam International
Source : apmollercapital.comN1 · Primary source
Impala Energy Holdings
June 2019 · NigeriaGrowthUndisclosed amountEquityEnergyLead
Activity : Commercial & industrial energy
Instrument : Acquisition · Vehicle : Africa Infrastructure Fund I K/S
Developer of captive gas-to-power plants (including flared gas) for industrial and commercial customers in Nigeria and Sub-Saharan Africa.
Why they invested
- Nigeria's structural power deficit
- Replace costly, polluting diesel generators
- Pipeline of captive power projects
Source : apmollercapital.comN1 · Primary source
A.P. Moller Capital invests tickets ranging from 30 M$ to 150 M$, across the following sectors: Infrastructure (all), Logistics, Energy, Water & environment, Real estate, Telecoms & digital infrastructure, and Transport & civil engineering, in the following areas: Nigeria, Ghana, Côte d'Ivoire, Kenya, Senegal, South Africa, Cape Verde, and Gabon. Check in 30 seconds whether your company fits these criteria.
