Alexforbes commits R500 million to renewable infrastructure through Infrastructure Impact Fund-of-Funds
Alexforbes Investments has committed R500 million to the Revego Africa Energy Fund through its recently launched AF Infrastructure Impact Fund-of-Funds, reinforcing its commitment to sustainable infrastructure investment and South Africa’s energy transition.
The investment is made alongside British International Investment (BII), the UK’s development finance institution, representing a combined R1 billion capital raised for the fund.
The investment marks an important milestone for Alexforbes’ Infrastructure Impact Fund-of-Funds, which is designed to provide exposure to infrastructure assets that deliver long-term, inflation-beating returns while contributing meaningfully to South Africa’s economic and social development. The Revego Africa Energy Fund invests in operational renewable energy assets across South Africa, supporting energy security, climate resilience and inclusive growth.
To strengthen the assessment and communication of sustainability outcomes, the AF Infrastructure Impact Fund-of-Funds is supported by Paragon Impact, our recently acquired impact measurement and management business. Paragon Impact provides independent assessment and ongoing measurement of sustainability outcomes across underlying assets. Paragon Impact completed an initial impact assessment of the Revego Africa Energy Fund, providing independent analysis of the fund’s sustainability and development outcomes. This integrated capability strengthens our ability to evidence outcomes over time and support transparent, ongoing engagement with clients and stakeholders.
Based on Paragon Impact’s assessment, through the Revego Africa Energy Fund, the portfolio aggregates and manages approximately 806 MW of operational renewable energy capacity, generating around 2.3 TWh of electricity annually, enough to power more than one million homes, and avoiding an estimated 2.4 million tonnes of CO? emissions in 2024. The fund has also directed over R114 million into community initiatives focused on education, water and healthcare, and supported local employment across its projects.
“This investment underscores our commitment to driving South Africa’s infrastructure and energy transition, building on our legacy of innovation and impact in private markets,” said Gyongyi King, Chief Investment Officer at Alexforbes Investments. “This transaction is a natural extension of Alexforbes’ strategy to unlocking new opportunities for our clients and for the country’s sustainable growth.”
Alexforbes brings more than two decades of experience in private markets, with over R11 billion invested across alternative assets. The Infrastructure Impact Fund-of-Funds targets a fund size of R5 billion and focuses on critical sectors such as renewable energy, transport, and essential infrastructure, helping to bridge South Africa’s infrastructure gap and support long-term economic resilience.
The investment also aligns with Alexforbes’ commitment to transformation and inclusive participation in the asset management industry. Revego is a majority black-owned and managed renewable energy fund manager, further reinforcing the Fund-of-Funds’ role in supporting sustainable and inclusive economic growth.
Alexforbes is proud to invest alongside BII, whose participation further validates the strength of the Revego platform and highlights growing institutional demand for climate-focused infrastructure investments. This commitment represents the second investment made by the AF Infrastructure Impact Fund-of-Funds and forms part of Alexforbes’ broader strategy to build a resilient, impact-driven private markets offering.
