Angola wealth fund, Gemcorp launch $500 million pan-African infrastructure vehicle
Quidah is an online platform that connects investors with curated opportunities and expert insights on Africa’s emerging markets, while offering businesses promotional services, partnership facilitation, and market intelligence to attract capital and grow their operations.
Industries
Angola’s sovereign wealth fund, Fundo Soberano de Angola (FSDEA), partnered with London-based Gemcorp Capital to establish the $500 million Pan-African Infrastructure Fund aimed at accelerating private investment in essential African infrastructure sectors. The vehicle, domiciled in Abu Dhabi, targets projects in critical minerals, food and water security, transport, and energy transition to leverage growing Gulf capital flows into the continent.
FSDEA committed an initial $50 million with an option to increase to $200 million, while Gemcorp pledged up to $50 million, leaving the balance to be raised from global investors seeking diversification beyond saturated U.S. and European markets. Gemcorp, which has financed around $9 billion in emerging-market projects over the past decade, will manage the fund through its Africa platform with individual investments sized at $20–$75 million to match institutional co-investment preferences.
FSDEA, managing approximately $4 billion in assets since its 2011 creation with an initial $5 billion endowment, has reoriented its strategy following governance reforms triggered by the 2020 fraud conviction of former chair José Filomeno dos Santos. FSDEA chair Armando Manuel stated the new fund enables diversification from a portfolio heavily weighted toward listed securities and derivatives in U.S., European, and Asian markets into long-term African infrastructure assets.
