Incorporated in 2013, the Fund achieved its first close on 16th January 2015, with total commitments of circa US$91 million. ARM, the main investor in ARMHIF, committed US$25 million to the Fund and Harith, the co-sponsor, together with investors from its pool, committed a matching US$25 million.
Harith are fund managers of the South African-based US$630M Pan African Infrastructure Development Fund (PAIDF1), and achieved first close in 2014 for a new US$1.2 billion fund (PAIDF2). Harith also owns UK-based Frontier Markets Fund Managers Ltd, managers of the Emerging Africa Infrastructure Fund and Guarantco, both funds contributing a further US$1.2 billion of assets under management to the Harith portfolio. Harith has a solid track record and history in infrastructure with investments in several sectors across Africa covering ICT, airports, tolled bridges, petrochemicals, and submarine cables, amongst others. PAIDF1’s infrastructure investments include the Main One Cable Company, owner of Nigeria’s first privately-financed submarine cable system, which runs down the coast of West Africa.
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