Sanlam Alternative Investments wins IFLR Award following landmark EU-backed climate finance deal
Sanlam Alternative Investments (SAI) has won a prestigious International Financial Law Review (IFLR) award, following its role in structuring a landmark climate finance transaction backed by a €205 million European Commission guarantee. The award recognises the innovation behind this landmark deal, which positions South Africa at the forefront of global blended finance structuring.
The SAI team, comprising Mark Moorhouse, Himal Vallabh, Yonke Soga, Lerato Nonyana and Natalie Louria, together with legal partner Bowmans, won the award for “In-house Team of the Year for Corporates”. It was also shortlisted for “Deal of the Year for Sanlam Life Insurance – Climate Aggregator”.
The award acknowledges SAI’s role in structuring and executing an innovative bridge loan facility in support of Climate Fund Managers’ Climate Investor Two (CI2) – a blended finance platform focused on water, sanitation and ocean infrastructure across emerging markets.
The transaction is backed by a €205 million European Commission guarantee and will be refinanced through a long-term climate bond. This structure creates a scalable pathway for fixed-income investors to access high-impact, climate-aligned infrastructure assets.
Legal innovation recognised on the global stage
The IFLR nomination recognises the legal structuring complexity of the deal, which successfully blended public-sector guarantees with private capital markets in a manner that enhances investor protection while unlocking capital for climate adaptation.
The transaction demonstrates how South African institutions can lead in designing globally relevant climate finance solutions – particularly for emerging markets that face the most acute climate risks. The deal also signals growing influence in shaping climate-aligned capital structures that are both commercially viable and developmentally impactful.
Structured for scale and impact
Rob McJannet, CEO Sanlam Alternative Investments said: “We are incredibly proud of the team behind this historic transaction. It was no simple feat, and deserves the recognition afforded by our industry peers and the IFRL. The bridge loan facility provided by Sanlam Alternative Investments and supported by the European Commission guarantee will later be refinanced through a climate bond, opening institutional fixed-income markets to CI2’s diversified portfolio of adaptation-focused infrastructure projects – which are at the heart of our purpose as a business.”
McJannet added: “This mechanism allows investors to access the fund’s underlying asset base while maintaining the hallmark of Sanlam’s infrastructure platform: robust governance and disciplined risk management.”
Mark Moorhouse, Executive Head of Infrastructure Finance at Sanlam Alternative Investments, commented: “This transaction reflects our conviction that commercial success and climate resilience can, and must, go hand in hand. By backing CI2, we are enabling infrastructure that directly improves lives and addresses the climate challenges faced by emerging markets.”
African impact at scale
Since its first close in 2021, CI2 has committed approximately $339 million to 25 projects across emerging markets.
Projects include:
• Waste-to-energy platforms in Sierra Leone and South Africa
• Water supply and distribution in Vietnam and the Philippines
• Desalination initiatives in Thailand and Kenya
• The world’s largest debt-for-nature swap in Ecuador
CI2 is now recognised as the largest climate-adaptation infrastructure fund dedicated to emerging markets, spanning Africa, Asia and Latin America.
The bridge facility lays the foundation for further institutional participation in climate-resilient infrastructure, reinforcing South Africa’s leadership in adaptation-aligned finance.
