Ninety One, a prominent global investment firm, has announced the first close of its third Africa and emerging markets-focused credit opportunities fund, ACO Fund 3, with commitments totaling $260 million.
Backed by Global Institutional Support
The fund has received backing from major international institutions, including the International Finance Corporation (IFC), British International Investment, and the Swiss Investment Fund for Emerging Markets (SIFEM). Additionally, Standard Bank of South Africa is providing credit support for the initiative, bolstering its financial foundation.
Investing in Growth and Infrastructure
ACO Fund 3 is tailored to deliver private credit investments to leading companies and infrastructure projects across Africa and other emerging markets. By doing so, the fund aims to generate competitive returns for its investors while supporting economic growth, development, and job creation in these regions.
Nathaniel Micklem, co-head of Ninety One Emerging Market Alternative Credit, expressed excitement about the fund’s potential. “This marks our 19th emerging markets private credit fund. Our strategy has a proven track record of driving growth and supporting infrastructure companies across Africa and other emerging markets,” Micklem said.
A Proven Strategy for Impactful Investing
Micklem emphasized the consistent success of the ACO strategy, which has outperformed both public and private credit benchmarks. He noted that the fund’s investments contribute not only to financial returns but also to the development of local capital markets in target regions.
Kalina B. Miller, IFC’s financial institutions group regional industry manager for Southern Africa, highlighted the fund’s broader impact. “This milestone is a significant step in fostering private sector-led growth and job creation across Sub-Saharan Africa,” she stated.
Driving Sustainable Development
ACO Fund 3 underscores Ninety One’s dedication to supporting private sector growth and infrastructure development across emerging markets. By targeting key companies and infrastructure projects, the fund aims to deliver both economic benefits and sustainable development, solidifying Ninety One’s reputation as a leader in alternative credit strategies.
The success of this initial close signals a strong foundation for future growth as the fund continues to attract interest from investors committed to impactful and sustainable investments in Africa and beyond.