The Government Employees Pension Fund and the Public Investment Corporation have signed a new mandate related to unlisted developmental investments in Africa. The PIC confirmed the new mandate in a short statement on Tuesday, but did not reveal the value of the deal. However, Bloomberg reported that the agreement is worth around $1.6 billion .
Investments per entity “The target of developmental investments for South Africa is between R300 million and R500 million per entity, although attractive investments starting at R100 million will be considered per entity,” it says. “The rest of Africa developmental investment portfolio shall mainly comprise of investments between $20 million and $40 million.
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