STANLIB Asset Management Ltd., one of Africa’s largest investment firms, aims to deploy $160 million to help address a funding gap for major renewable energy initiatives across the continent.
The objective of the fund is to mobilise much needed capital from long-term investors. This is in a bid to help finance South Africa’s energy transition needs. More so,extending into the rest of the continent in future.
“The energy transition theme, which at its core is a disruptive technological revolution, will require significant capital but also presents an investment opportunity that will take many years to fully mobilise and fund.
The STANLIB Khanyisa Energy Transition Fund is designed to provide easier access to mobilise capital to fund this transition and the opportunities this transition presents”, says Johan Marnewick, head of STANLIB’s Credit Alternatives and one of the Fund’s portfolio managers.
The Khanyisa Energy Transition Fund is using initial investment from Stanlib’s sister companies. The companies are Standard Bank Group Ltd and Liberty Holdings Ltd.
However, It will start with South Africa and then seek assets across Africa within two years,”Johan Marnewick, head of credit alternatives at Stanlib stated
At the same time, the fund aims to support one of the central concerns of developing countries at COP 28. The concern is to secure adequate, predictable, at-scale and appropriate means of support for climate actions and just transitions.
Currently, STANLIB Credit Alternatives team is one of the largest and best-resourced credit teams in the African continent.
The credit team comprises 29 professionals focused on a broad range of credit investment opportunities. All of them represent over 350 years of collective experience.
STANLIB is one of South Africa’s largest investment managers, administering over billion in assets under management December 2022.
The depth and breadth of the investment teams gives investors a range of options to preserve capital and create wealth.
It offers specialist investment management disciplines – from fixed income to multi-asset, listed property, balanced and equity.
Likewise it also offers alternative’s across a broad choice of traditional and alternative asset classes and multiple investment strategies. They include active and passive management, as well as single and multi-manager capabilities.