EOS capital’s NIDIF targets to raise N$1.5b

By Hilary Mare

THE recently launched Namibia Infrastructure Development and Investment Fund (NIDIF) which is private equity firm, Eos Capital’s second fund targets to raise N$1-1.5 billion by October 2020.

On its first close in November 2019, N$550 million has been raised from a large public pension fund and an insurance company.

NIDIF is an infrastructure platform with a Namibian-only mandate that will develop, acquire, invest in, build, operate and hold infrastructure assets, which forms a portfolio that provides robust, low volatility and income yield to its shareholders over the long term.

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The fund will enable inward investment from DFI’s, regional and international investors due to its positioning, track record and high governance standards.

Johannes !Gawaxab, Managing Partner of Eos Capital said: “We have a short supply of alternative sources of capital and a deficit exceeding N$200 billion for investing in economic and social infrastructure in Namibia. There is material need for infrastructure investments in Namibia and Eos Capital aims to be at the forefront of this development”.

Some of the sectors and assets NIDIF will be investing in are necessary for the Namibian economy to function.

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NIDIF will be an active developer of, and investor in, infrastructure projects and will develop with the prime objective of harvesting the long-term asset cash flows of the portfolio to match against the long-term liabilities of pension funds, contractual savers and similar type investors.

The fund will make equity and quasi-equity investments into unlisted vehicles and target sectors include Energy, Water, ICT, Transport and Logistics, Healthcare and Education. The fund will thus invest in infrastructure projects with emphasis on economic growth, social upliftment and job creation.

Eos Capital, the name of which means New Dawn in Greek mythology, is a Private Equity Fund Manager led by experienced professionals with the former MD of Old Mutual Africa Johannes !Gawaxab as Managing Partner, Nicole Maske, who brings significant strategic and financial experience as Partner: Value Add, and Ekkehard Friedrich, who brings considerable international transaction advisory experience, as Partner: Investment.

The company’s first fund, Allegrow Fund is a growth and operational development fund with a Namibia-only mandate that provides equity, debt and mezzanine finance to fast growing Namibian businesses.