Ninety One, a leading investment firm, has announced the first close of its third Africa and emerging markets-focused credit opportunities strategy, securing $260 million in commitments. The fund, known as ACO Fund 3, has garnered support from prominent international institutions, including the International Finance Corporation (IFC), British International Investment, and the Swiss Investment Fund for Emerging Markets (SIFEM).
Standard Bank of South Africa is serving as the credit provider for this initiative. ACO Fund 3 is designed to provide private credit investments to market-leading companies and infrastructure projects across Africa and other emerging markets, with the goal of delivering competitive returns for investors. The fund aims to support economic growth and development in these regions by financing key projects and enterprises.
Nathaniel Micklem, co-head of Ninety One Emerging Market Alternative Credit, expressed enthusiasm for the fund’s launch. “Along with our partners, we are very excited to be launching our 19th emerging markets private credit fund. The strategy has a long history of supporting growth and infrastructure companies across Africa and other emerging markets,” he said.
Micklem also highlighted the strong performance record of the ACO strategy, noting that it has consistently outperformed public and private credit benchmarks while contributing to the development of capital markets in its target regions.
Kalina B. Miller, IFC’s financial institutions group regional industry manager for Southern Africa, emphasized the fund’s potential impact on economic growth. “This milestone marks a significant step in our commitment to fostering private sector-led growth and job creation across Sub-Saharan Africa,” she said.
ACO Fund 3 is poised to strengthen private sector growth and infrastructure development across emerging markets, further solidifying Ninety One’s reputation as a key player in alternative credit strategies. The fund’s focus on providing private credit to leading companies and infrastructure projects is expected to drive significant economic benefits and support sustainable development in the regions it targets.
