Angola wealth fund, Gemcorp launch $500 million pan-African infrastructure fund
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Angola’s sovereign wealth fund, Fundo Soberano de Angola (FSDEA), partnered with London-based Gemcorp Capital to launch a $500 million Pan-African Infrastructure Fund targeting investments in critical minerals, energy transition, water and food security projects continent-wide. The initiative aims to channel private capital into high-priority African infrastructure sectors where deal flow remains underdeveloped.
FSDEA will provide seed capital of $50 million with potential to increase to $200 million, while Gemcorp commits up to $50 million, with the balance raised from global investors pursuing diversification beyond saturated U.S. and European markets. Domiciled in Abu Dhabi, the fund will deploy investments in the $20–$75 million range through Gemcorp’s established Africa platform, prioritising Southern and East African opportunities. Gemcorp executive Asad Hajiyev highlighted interest from Nordic pension funds, Gulf institutions and family offices.
FSDEA, managing approximately $4 billion in assets since receiving a $5 billion endowment in 2011, accelerated governance reforms following the 2020 corruption conviction of former chairman José Filomeno dos Santos. FSDEA chair Armando Manuel stated the fund shifts portfolio allocation from securities and derivatives toward long-term African infrastructure exposure.
