African Infrastructure Investment Managers (AIIM), a member of Old Mutual Alternative Investments, announced in late July that it has reached final close on its third African Infrastructure Investment Fund (AIIF3). The fund raised $320m, making it one of the larger private equity funds on the continent, where the average fund raise is around $230m, according to Preqin Infrastructure Online’s 2018 Global Infrastructure Report. AIIM has already committed AIIF3 funds to nine projects and expects the fund to be fully committed within 18 to 24 months.