Macquarie-backed African renewables investor seeks fresh funds

Revego Fund Managers, which runs Africa’s first fund focused on primarily investing in operating renewable-energy assets, is seeking new investors as it works toward an eventual listing. The fund manager wants to raise about R3-billion to invest in projects to add to the R2-billion Revego Africa Energy Fund, a so-called yieldco focused on dividend flows, chief investment officer Ziyaad Sarang said. It will consider listing when it has about $500-million of assets under management and currently has a pipeline of about R10-billion in potential investments, he said.