British International Investment (BII) and FMO have announced a $116m joint commitment to African Infrastructure Investment Fund 4 (AIIF4), managed by African Infrastructure Investment Managers (AIIM).

Anchor investor BII, the UK’s development finance institution, has committed $76m, and FMO, the Dutch entrepreneurial development bank, has committed $40m.

Their investment aims to support AIIF4 in reaching its $500m target fund size.

The Fund had previously received a cornerstone investment from Old Mutual, the fund manager’s sponsor.

Ryan Wagner, Head of Infrastructure and Climate Funds,  BII, said: “For over a decade, BII has proudly been an active partner to AIIM, an institutional fund manager with long-term industry expertise and on-ground knowledge of the Africa infrastructure space.”

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