The funds are invested in a number of major projects in diversified sectors such as energy, transport, information and telecommunications, and water and sanitation. Harith recently added health as a sector. PAIDF is supported by African capital raised from state pension funds, development finance institutions, top investment banks and financial institutions.
Harith is also in a partnership with Asset and Resource Management Company Ltd (ARM), a leading Nigerian financial services company which currently manages over US$2.7bn of assets, to form the ARM-Harith Infrastructure Fund (ARMIF). ARMIF invests in infrastructure projects in West Africa.
In addition to ARMIF Harith has a joint venture with East Africa's PTA Bank to establish the US$1bn COMESA Infrastructure Fund (CIF) with a mandate to invest in the Common Markets for East and Southern Africa. Harith has also launched PROGENY which is a project development fund seeking to strengthen project origination capacity in Africa.
The fund manager has also created a joint venture known as TIMU with the Jones Pohl Group. TIMU is an investment company formed specifically to invest in early stage capital into clean energy projects throughout Africa.
“Our mission is to find commercial solutions to overcome development challenges.”