The Rockefeller Brothers Fund joined the investor consortium backing Lekela Power, the renewable energy joint venture between private equity firm Actis and developer Mainstream Renewable Energy, which was announce at the end of June. The investment, which has now received shareholder approval, totals $177 million with the consortium providing $117.5 million while Mainstream will be investing the balance.
As we reported at the time, the group of investors providing $117.5 million in equity funding was led by the IFC and also includes Missouri-based Ascension Investment Management and Sanlam, the South African financial services group. According to Bloomberg, The Rockefeller Brothers Fund is investing $10 million.
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