Infrastructure Private Equity Fund - Stanlib

STANLIB INfrastructureprivate equity fund 1

STANLIB INfrastructureprivate equity fund 1Launched to make long-term equity andequity-related investments in greenfieldand brownfield infrastructure projectsin sub-Saharan Africa, principally inSouth Africa.The teamThe team has more than35 years of combinedexperience in privateequity, project finance andinfrastructure investing inSouth Africa and acrosssub-Saharan Africa.This experience includes exposureto various infrastructure sectorsincluding power, oil & gas,transportation (roads, rail, ports andairports), renewable energy, waterand public private partnerships.The team also has significantexperience in infrastructure fundsas representatives of both investorand in governance roles, includingrepresentation on investmentcommittees and governing boards.For further information pleasecontact STANLIB InfrastructureInvestments on +27 11 448 5362Infrastructure gaps are consistently cited as the biggest challengeto doing business in Africa. Africa needs to spend approximatelyUSD90bn per year during the next decade to upgrade and maintainits infrastructure base. Private sector capital is expected to play anincreasing role in light of the budgetary constraints faced by manygovernments. 41.5% of all capital invested in Africa has been allocatedto infrastructure projects, a third of which was allocated to energyand road projects.Infrastructure assets are increasingly being recognised by investorsas attractive for their diversification and risk/return attributes.KEY FEATURESLegal Form - STANLIB Infrastructure Private Equity Fund 1 (the “Fund”) is a10-year closed end limited liability en commandite partnership. To the extentnecessary, one or more parallel entities may be established to accommodatethe needs of offshore investors.General Partner and Fund Manager - The Fund will be an encommandite partnership acting through its general partner, STANLIBInfrastructure GP 1 (Pty) Ltd, a private company incorporated in South Africa.The General Partner has engaged STANLIB Asset Management Limited(the “Manager”) who will provide all investment services, portfoliomanagement and administrative services to the Fund.First close date - First close was achieved in May 2013.Fund size - The target fund size is R1 billion, with a maximum of R1.5 billion.Term - 10 years, plus two possible extension periods of one year each.Commitment Period - Five years from first close date.Minimum Capital Commitment - Investors are required to commita minimum of R50 million.Drawdowns - Will take place as required over the fund term.Targeted Investments - Significant minority equity stakes ininfrastructure projects:ЉЉSub-Saharan Africa with a bias towards South Africa;ЉЉinfrastructure projects with a bias towards renewable energy; andЉЉlimit of 30% of total commitments to be invested outside of South Africa.TARGET RETURN - 18% per annum, after costs.Current Investments - The Fund has acquired 4 renewable energyassets from Standard Bank where the Team was instrumental in structuringthese transactions. These 4 investments comprise 35% of the Fund’s totalanticipated capital.DisclaimerThe information and content (collectively ‘information’) provided herein are provided by STANLIB as general information for information purposes only. STANLIB does not guarantee thesuitability or potential value of any information or particular investment source. Any information herein is not intended nor does it constitute financial, tax, legal, investment, or otheradvice. Before making any decision or taking any action regarding your finances, you should consult a qualified Financial Adviser. Nothing contained herein constitutes a solicitation,recommendation, endorsement or offer by STANLIB.STANLIB Asset Management Reg. No. 1969/002753/06An authorised Financial Services Provider in terms of the Financial Advisory and Intermediary Services Act 37 of 2002 (License No. 26/10/719).Compliance No. DR2508