Global growth markets investor Actis has wrapped up fundraising for its latest energy fund, pulling in commitments from both returning and new investors. The firm, which set out to raise $4 billion for Actis Energy 5, saw healthy levels of demand from investors and significantly beat its target. It now has $6 billion of investable capital, 66% of which has already been allocated to energy transition opportunities. The fund’s LP mix is made up of a diversified group of investors including pension funds, insurance companies, endowments, sovereign wealth funds, and others.
Actis Energy 5 is building a portfolio of wind and solar assets in Africa, Latin America, and parts of Asia. Actis’s investment strategy is to source and take control stakes in power generation and/or distribution businesses that have significant scale, diversification, and growth potential. The firm’s renewable energy investments in Africa are usually executed via Lekela Power, a $1.9bn pan-African platform that was set up in 2015 in a 60/40 partnership with Mainstream Renewable Power, a global wind and solar developer. The platform’s goal is to earn strong financial and sustainable returns from developing and building projects that will deliver 1,000 megawatts of renewable energy across the continent.
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