Paris fund enters African markets

Backed by bilateral and international financial institutions, Meridiam Infrastructure Finance (MIF) is near to launching its first African equity fund, which will seek to position it as a developer as well as investor in long-term projects, as it has done in Europe, Turkey and North America. Paris-based MIF’s Africa fund, which is targeting an initial E300m of equity, enjoyed a successful first close in May and “is moving far down the path”, towards a launch, partner Julia Prescot told the European Investment Bank’s first ‘Africa Day’, held in Luxembourg on 11 July.