Gaia lists infrastructure fund on South Africa’s 4AX

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Infrastructure investment specialist Gaia Fund Managers launched a preference share listing on South Africa’s 4AX last Thursday, opening up more opportunities for public market investors to boost their exposure to alternative asset classes. The listing of Gaia Fund I was undertaken in partnership with asset manager Kruger International Asset and Wealth Management which acquired the entire allocation of A preference shares on behalf of several of its funds.

The capital raised is being used to acquire a 16% indirect stake in the Tsitsikamma Community Wind Farm, a 95MW facility located 30 kilometers west of Humasdorp in South Africa’s Eastern Cape which began operations in August 2016. The wind farm’s other investors include other investors in the farm include the Tsitsikamma Development Trust with a 9% holding with the balance of 75% of the farm held by Cennergi, a wholly-owned subsidiary of Exxaro Resources.

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