Norton Rose Fulbright advises on $1bn Pan African Infrastructure Development Fund 2

3 July 2014

Global elite legal practice Norton Rose Fulbright has advised the South African Government E mployees Pension Fund (GEPF), African Development Bank (AfDB) and DTD Holdings (DTD) on their proposed investments in the Pan African Infrastructure Development Fund 2 (PAIDF 2).

PAIDF 2 was formed as a South African limited partnership with a parallel corporate vehicle in Mauritius.  The Fund achieved a first close of $430 million and is aiming for a final close of $1 billion.

A senior Investments Funds practice team made up of lawyers from Norton Rose Fulbright's Durban and Johannesburg offices reviewed and negotiated the substantive Fund documents on behalf of GEPF, AfDB and DTD and also prepared and negotiated supporting agreements.  The team was led by Lance Roderick (Durban office) and he was supported by Louise Campion, Michelle David, Dale Cridlan and Ashford Nyatsumba (all from our Johannesburg office). 

Lance Roderick, head of Norton Rose Fulbright's South African Investment Funds practice, comments:
"We were privileged to be able to offer our skills on this significant private fund transaction especially during a time when the industry remains a cornerstone of infrastructure development. And, despite the investment management industry facing unprecedented regulatory change on a global basis. Given its size, PAIDF 2 has an important strategic role to fulfill in the context of Africa's infrastructure boom."

The GEPF is a long-standing client of the practice and we have previously advised them on a four pillar approach to their unlisted investments.

Norton Rose Fulbright's Investment Funds practice is ranked Tier 1 by Legal500, 2013.

Original article by Creamer Media Reporter

Categories: General

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