Mahlako Financial Services, a women-owned and operated alternative investment and advisory firm in South Africa, announced the launch of a new fund to invest in energy projects last week. The Mahlako-a-Phahla Energy Fund is aiming to raise R1.5 billion (or approximately $100 million at current rates) to invest in renewable energy projects as well as midstream oil and gas opportunities and energy services businesses in South Africa. The fund is aiming to raise R800 million by the time of its first close.
Mahlako was founded and continues to be led by two sisters – Makole Mupita and Meta Mhlarhi – each of whom has extensive experience in the energy and infrastructure investment sector. Mupita was a portfolio manager for Old Mutual’s R2 billion IDEAS Fund for six years prior to setting up Mahlako in 2009. Mhlarhi has worked on establishing projects in the energy and other sectors, and, while at Deloitte and Investec Bank, was involved in restructuring businesses, and sourcing, managing and evaluating investments in addition to capital raising. She is also the Chair of the Black Energy Professionals Association.
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