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Maersk family foundation launches Africa infrastructure fund

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A P Moller Holding, which controls Danish shipping giant A P Moller-Maersk, said Wednesday it has launched a new fund that will invest in infrastructure in Africa.

[COPENHAGE] A P Moller Holding, which controls Danish shipping giant A P Moller-Maersk, said Wednesday it has launched a new fund that will invest in infrastructure in Africa.

The fund, which was launched with pension funds PKA, PensionDanmark and Medical Doctors' Pension Fund, has received commitments of US$550 million and aims to raise US$1 billion.

The fund will be managed by former Maersk management members Kim Fejfer, Lars Reno Jakobsen and Joe Nicklaus Nielsen, as well as Jens Thomassen, who is joining from Denham Capital.

"We are delighted to have established a new promising company in our portfolio with a strong team, who hold the right capabilities and experience to manage infrastructure investments in emerging markets," said A P Moller Holding chief executive Robert Maersk Uggla.

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A P Moller Holding is a wholly-owned fund established in 1953 by the founder of A P Moller Maersk with approximately US$20 billion under management.

The holding company owns 41.5 per cent of shares and 51 per cent of voting rights in the listed Maersk company.

Mr Fejfer used to run the company's APM Terminals division which manages ports around the world and has invested in ports in sub-Saharan countries such as Nigeria and Ghana.

REUTERS

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