Actis raised about $6bn for a new fund to invest in power-generation projects across emerging markets, as the private-equity firm shifts its investment focus entirely on infrastructure and away from traditional buyouts.
The London-based firm said it wrapped up Actis Energy 5 LP with roughly $4.7bn in commitments and another $1.3bn in capital for co-investments. The final tally exceeded the fund’s $4 billion target and more than doubled the $2.75bn the firm secured for a predecessor fund in 2017.
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The LP base of the new fund includes pension funds, insurance companies, endowments, sovereign wealth funds and other investors from across the globe, it added.
The UK based Actis had sold its clean energy platform in India – Ostro Energy to ReNew Power Ventures in 2018 at an enterprise value of $1.5 billion. Currently, Actis plans to sell its India clean energy platform Sprng Energy and has mandated Bank of America to find a buyer.
Three years after it successfully sold its clean energy platform Ostro Energy, Actis has mandated Bank of America to officially launch a formal process to divest Sprng Energy for an enterprise valuation of $2.5-$2.7.
Source: Wall Street Journal
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