ARM-Harith Secures $76 Million First Close for Climate Transition Infrastructure Fund
ARM-Harith Infrastructure Investments Limited, a leading pan-African private equity fund manager focused on sustainable energy and infrastructure investments, has announced the first close of its Successor Fund, a climate transition-focused investment vehicle, at approximately $76 million.
The fund, which targets a final close of $200 million, is described as Africa’s first integrated multi-currency blended finance platform specifically designed for institutional investors. It combines both US dollar and local currency investments within a single structure to support infrastructure equity projects across Sub-Saharan Africa.
According to the company, the fund is aimed at unlocking large-scale African institutional capital and accelerating investments in energy transition, climate-resilient infrastructure, and sustainable development projects across the continent.
Speaking on the milestone, Rachel More-Oshodi, Chief Executive Officer of ARM-Harith, said the first close represents a significant step in reshaping infrastructure financing in Africa.
“This first close is both an achievement and an inflection point for ARM-Harith. With our first fund, we demonstrated that domestic institutional capital can be mobilized into infrastructure equity. With this successor fund, we are building on that foundation by bringing local and hard-currency capital together within a single platform,” she said.
She noted that the fund seeks to better align investment structures with the realities of African infrastructure projects while attracting both domestic and international investors.
Also commenting, Joao Duarte Cunha, Manager of the Renewable Energy Funds Division at the African Development Bank, described the first close as a major milestone for renewable energy investment in Sub-Saharan Africa.
He said the participation of the Sustainable Energy Fund for Africa (SEFA) demonstrates the bank’s commitment to mobilising long-term institutional capital and leveraging blended finance to attract private sector investment into sustainable infrastructure.
Meanwhile, Anne-Marie Chidzero, Chief Investment Officer at FSDAi, said the investment structure was designed to bridge the gap between pension fund capital and infrastructure equity investments.
According to her, the model addresses concerns relating to tenure, risk allocation, and currency alignment, allowing pension funds to invest in infrastructure while meeting their long-term obligations.
ARM-Harith said its predecessor fund supported critical infrastructure projects, including transport assets and more than 700 megawatts of installed power capacity across Africa.
The company noted that those investments helped create approximately 22,500 jobs and contributed to the avoidance of an estimated 2.6 million tonnes of carbon dioxide emissions annually.
The new fund is expected to build on that foundation by financing projects that combine strong commercial returns with measurable climate and developmental impact, while supporting regional integration and sustainable economic growth across Africa.
ARM-Harith is one of Africa’s leading infrastructure fund managers, with investments spanning energy, transport and logistics, digital infrastructure, waste management, and water projects. The firm has played a prominent role in mobilising domestic institutional capital, particularly Nigerian pension funds, for infrastructure development across the continent.
ARM-Harith Secures $76 Million First Close for Climate Transition Infrastructure Fund