AIIM successfully sells 3 toll roads

In what represents the largest realization for private equity investment in Africa’s toll road infrastructure to date, African Infrastructure Investment Managers (AIIM) has successfully sold the South Africa Infrastructure Fund’s (SAIF) investments in three privately-concessioned toll roads. The buyers are a consortium of the assets’ largely existing investors which include the Public Investment Corporation, Liberty Group Limited, Old Mutual and Africa Finance Corporation. Additional terms of the deal were not disclosed.

According to an AIIM spokesperson, SAIF has reached its extended maturity date and certain fund investors favored an orderly realization of the funds investments. AIIM retains stakes in the toll roads through its other managed Funds.

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