ArabFinance: London-based emerging markets investment firm Actis intends to secure $4 billion (EGP 62.78 billion) to $4.5 billion (EGP 70.62 billion) funding for launching its new international fund Actis 5, the company’s Partner and Head of MENA Sherif el Kholy told Hapi Journal on October 4th.

The fund aims to invest in renewable energy and infrastructure projects, with a focus on the Middle East and North Africa.

Subscription will only be available for sovereign funds, international pension funds, and large financial institutions, El Kholy added.

He noted that Actis 5 is being prepared to be fully operational before the end of 2020.

Actis plans to invest in Egypt’s wind farms operating under a build-own-operate system as well as solar projects, according to the official.

The company, in addition, intends to take part in water desalination and treatment developments, through its $1.2 billion (EGP 18.83 billion) infrastructure fund, El Kholy said.

Actis had reportedly planned, a couple of years ago, to obtain a foreign loan for the investment cost of a 250 megawatt wind power project in the Gulf of Suez.

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