London-based sustainable infrastructure investor Actis raised $1.7 billion for its second Actis Long Life Infrastructure Fund, or ALLIF2, which invests in growth markets across Asia, Latin America, Central and Eastern Europe, the Middle East and Africa.
The fund attracted a pool of new and existing global investors including pension funds, funds of funds, insurance companies and sovereign wealth funds.
The new fund tops Actis’ first Long Life Infrastructure Fund, which raised $1.23 billion in 2019 in Actis’ first fundraise since it was acquired by US growth equity firm General Atlantic last year.
Sustainable infrastructure
Actis manages several other sustainable infrastructure funds focused on real estate and renewable energy. Under its long life infrastructure strategy Actis buys and improves “brownfield” infrastructure projects, including renewable energy assets, electricity transmission and distribution, district cooling and digital infrastructure, that generate predictable, long-term revenues over a hold period of 10 years or more.
ALLIF2 has a near-term pipeline exceeding $2 billion. It has already deployed half of its financing, including to acquire 21 solar generation assets managed by India’s Stride Climate Investments in March. The fund completed two acquisitions of Brazilian electricity transmission assets last year.
“At a time of macroeconomic uncertainty across western economies, we are seeing investors increasingly turn to globally diversified strategies,” said Actis’ Neda Vakilian.
