Helios, Gaia Join Africa Climate Drive With $600 Million Target
- Fund secures backing from UK, Swiss, Dutch governments
- The target size of Helios’ Clear fund is $400 million
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Helios Investment Partners LLP and Gaia Fund Managers are raising hundreds of millions of dollars for Africa-focused climate funds to take advantage of the opportunities to invest in renewable energy and drought-resistant agriculture on the continent.
Helios — the biggest Africa-focused private-investment firm — won about $200 million from eight state-linked institutions in a first step to create the biggest Africa-focused climate fund, investors in the fund said Wednesday. Gaia of South Africa said its secured $50 million in commitments toward its Luxembourg-based Gaia Africa Climate Fund, which has a target of $200 million.