R600million has been raised year to date, with a target of R1bn. Fund II focuses on a similar investment strategy as Fund I. However, Fund II emphasizes a number of specific investment criteria that are borne out of the recent COVID – 19 pandemic and lessons learnt from investing Fund I. These specific criteria include, inter alia the following: Preference to structure transactions with some downside protection by utilizing other funding instruments opposed to direct equity investments; seeking specifically highly cash generative transactions that can return capital to our investors in the short to medium term; investing in portfolio companies that have an embedded infrastructure theme and/or have been resilient through the Covid – 19 pandemic.
Fund II is sector agonistic and in certain instances, it will co-invest with other private equity firms.