Gemcorp Capital and FSDEA announce plans for new Pan-African Infrastructure Fund

Gemcorp Capital, a global asset management firm specialising in emerging markets, and the Fundo Soberano de Angola (FSDEA) today announce, a joint initiative to launch a Pan-African Infrastructure Fund, a new investment fund principally focused on infrastructure projects across Africa.

The fund is expected to target approximately US$500mn, with the investment objective of providing flexible capital solutions focused on investing in Africa infrastructure, addressing the continent’s structural need for investment.

The fund will receive an initial investment of $50mn from the FSDEA which could increase to $200mn, depending on certain commercial conditions being met. In addition, Gemcorp Group will contribute up to $50mn, subject to regulatory and investment approval, with the remaining capital expected to be provided by global investors.

The fund is expected to be one of the first dedicated African infrastructure investments to be developed and, subject to regulatory approval, managed by a fund manager locally based in the Abu Dhabi Global Market (ADGM); highlighting the important role of the ADGM in acting as the gateway to investing in Africa. Gemcorp Capital has established a presence in the ADGM with a seasoned investment team demonstrating its commitment to the region to attract capital and originate projects organically in the UAE and across the Middle East. 

Gemcorp Capital has a successful track record in emerging markets spanning more than 10 years, deploying and financing approximately $9bn in projects[1], particularly in infrastructure and real assets. Leveraging such expertise, the fund aims to address Africa’s pressing needs in areas such as transportation, energy and energy transition, food and water security, supply chain, financial, and communication infrastructure.

Africa requires over $100bn of infrastructure investment per year over the next decade to provide basic services; 600mn people on the continent do not have access to reliable electricity [2]and over 400mn do not have access to clean running water[3]. With its arable land, critical minerals and renewable energy potential, African infrastructure offers compelling risk reward dynamics, with strong returns, lower infrastructure project default rates than developed markets[4], and the added benefit of a significant social and economic impact.

The fund will be supported by Gemcorp Capital’s affiliate, Gemcorp ICS, in origination and operational management of projects as relevant, ensuring that the fund’s strategy is executed at the highest standard and leverages the 'on-the-ground' presence of ICS in Africa with more than 500 team members[5].

Gemcorp Capital CEO and founder, Atanas Bostandjiev commented: 'We are proud to communicate our intention to launch the Gemcorp Pan-African Infrastructure Fund in partnership with FSDEA. The fund will reflect our commitment to deploying flexible capital across Africa, a region with a broad and diverse set of infrastructure investment themes. With infrastructure demand across the continent remaining critically underserved, our pipeline of projects will address this gap while delivering substantial economic and social impact. The seed investment from the FSDEA will serve as a catalyst for broader institutional participation, unlocking job creation and sustainable development across the region.'

Armando Manuel, Chairman of the FSDEA commented, 'We are delighted to commit to launch of the fund, as a joint initiative between Gemcorp and the FSDEA. At FSDEA we are committed to deploying strategic capital that drives Africa’s development and delivers tangible benefits to its people. The infrastructure needs across the continent are vast, and together with Gemcorp’s proven capability in sourcing, financing, delivering and managing complex infrastructure assets, we are uniquely positioned to generate both meaningful impact and sustainable returns.'

His Excellency, Dr Thani Al Zayoudi, Minister of Foreign Trade for the UAE commented, 'The UAE is one of Africa’s strongest advocates and most committed development partners. We welcome the upcoming launch of the Pan-African Infrastructure Fund, based in the Abu Dhabi Global Market. With over USD$110 billion in Emirati investment across the continent since 2019, this fund aligns with our commitment to fostering mutual prosperity and supporting infrastructure development in Africa that is essential for sustainable economic growth. Together, we can unlock Africa’s vast potential and contribute to a prosperous future for its people.'

[1] Gemcorp as at December 2025

[2] United Nations, 2025

[3] Unicef, 2022

[4] Moody’s, 2020

[5] Gemcorp as at 05.12.25

About Gemcorp:

Gemcorp is a global financial-industrial conglomerate, focused on the emerging markets. The Gemcorp business spans asset management, industrial platforms in energy, water, infrastructure and logistics and commodities and services. The Gemcorp business model provides the unique ability to originate, structure, finance, execute and manage key projects, providing a full lifecycle approach reducing risk and enhancing return. Gemcorp is present across the globe with offices in over 10 countries with over 500 staff.

About FSDEA:

The Fundo Soberano de Angola, FSDEA is the Sovereign Wealth Fund of Angola. It is an institution specialized in strategic investments, whether in financial markets or in alternative assets, which is responsible for setting up a sustainable mechanism that ensures the maximization of long-term returns, the preservation of capital and support for Angola's sustainable socio-economic growth, through investments in strategic sectors, in Angola or abroad, with a view to maximizing capital and the generational transfer of wealth.

Please note: The Fund referenced herein has not yet been established and is not available for subscription. This communication is for information purposes only and does not constitute an offer to sell, a financial promotion, or a solicitation to buy any units or interests in any fund. Any offering of interests will be conducted strictly in accordance with the FSRA regulatory requirements, and only after the completion of all relevant notifications and regulatory approvals.