Our Investment Thesis

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Delivering Superior Returns for our Partners and Clients

  

We deploy capital into energy and infrastructure revenue generating projects.  Our mission is to be the premier projects company for investors. We pursue this by managing complexity, risk and local challenges with integrity, ingenuity and perseverance.  Our African pedigree extends back to 1984 (to an earlier infrastructure fund we initiated) and includes several billion US dollars in projects across the continent

Understanding Risk in an African Context

While a development-focused investment profile is riskier than investing in established cash-flowing assets, the returns are also commensurately higher. We see risk in layers. We overlay standard political and security risk analyses with an appreciation for other considerations, including:

  • economic and demographic trends 
  • political and financial realities
  • regulatory maturity
  • market maturity and liquidity
  • labour market conditions and availability of suitable expertise for construction, maintenance and operations

We operate in markets we are familiar with, are comfortable in, and where we can be an influential player

The Business Model

Our business model is congruent with the following observations, made based on our extensive experience: 


  • Africa is a large and largely overlooked economy. As the world’s fourth largest, it is growing both economically and demographically and maturing politically; 
  • Africa’s economies need and can often support enormous investments in energy and infrastructure but the capacity to finance development remains weak; 
  • Our team has great depth of expertise in the planning, design, regulation, financing and construction of projects; and
  • Projects developed to Western standards (environmentally, technically, financially, etc.) are increasingly finding good homes in the mature pension and sovereign wealth funds of western nations. These pools of capital are enormous, liquid and all searching for assets that outperform the low returns available in the West 

The Corporate Structure

Our corporate structure is the most tax efficient legal structure, for both our clients and our investors. We are based in Mauritius, with offices across Africa

Capturing Tax Advantages Across the Business Model