PEMBANI REMGRO INFRASTRUCTURE MANAGERS

Thesis

Pembani Remgro Infrastructure Managers (PRIM) is an African-based investment firm founded in 2012, specializing in sustainable infrastructure opportunities across the continent. Their core strategy involves making equity, quasi-equity, and equity-related investments in both greenfield and brownfield infrastructure transactions, as well as companies within the infrastructure sector. PRIM focuses on sustainable infrastructure, aiming to unlock Africa's potential through projects that benefit the environment and communities. Key focus areas include Energy Transition (renewable energy), Digital Infrastructure (data centers, fiber networks), Transportation and Logistics, and Emerging Sectors like waste-to-value and infra-technology. They explicitly avoid direct investment in oil, gas, mineral extraction, and primary agriculture, but invest in the supporting infrastructure. PRIM's geographic scope covers the whole of Africa, with a strong emphasis on sub-Saharan Africa, including South Africa, East Africa, West Africa, and North Africa. They target growth and development capital, focusing on greenfield and brownfield projects, as well as secondary transactions, but do not take on early-stage development risk in greenfield projects. PRIM manages two funds: Pembani Remgro Infrastructure Fund I (PRIF I), which raised USD302 million and achieved final close in 2016, and Pembani Remgro Infrastructure Fund II (PRIF II), which closed in November 2024 with USD355 million. The minimum investment for PRIF I is USD10 million, with a maximum of USD35 million.