Private equity firm Actis, which focuses on investing in sustainable infrastructure assets in emerging markets including India, has closed its second Long Life Infrastructure Fund with $1.7 billion in commitments.
The fund has already deployed nearly half its capital, with a significant portion directed toward Indian assets and a near-term investment pipeline exceeding $2 billion, the PE firm said in a statement.
In March, the fund acquired Stride Climate Investments, a portfolio of 21 solar generation assets in India, from a fund managed by Australian asset manager Macquarie. The fund has also invested in power transmission assets in Brazil.
The PE firm said it is exploring additional opportunities in India’s renewable energy and digital infrastructure sectors, driven by the country’s urbanization and digitalization trends.
The new fund builds on the strategy of its 2019 predecessor, which raised $1.3 billion, focusing on brownfield infrastructure in high-growth markets, including India, Asia, Latin America, and Africa.
Actis said that the fund attracted commitments from pension funds, insurance companies, and sovereign wealth funds across Europe, North America, Asia, and the Middle East.
The fund targets stable, long-term income through operational enhancements in sectors like renewable energy, electricity transmission, and digital infrastructure. India, with its rapidly growing energy demand and ambitious clean energy targets, is a key focus for the fund’s investments, Actis said.
“Investors are looking for the resilience, scale, and relevance that our long life infrastructure platform offers,” said Torbjorn Caesar, Chairman and Senior Partner at Actis.
The first long life fund, closed in 2019, also invested in Indian assets, including renewable energy projects. The new fund's early deployment in India signals an acceleration of this strategy, the firm said.
Actis merged with US-based PE investor General Atlantic in October last year, taking their combined assets under management to $108 billion. The PE firm’s broader portfolio includes 34 energy infrastructure investments across 25 countries, but India stands out for its scale and potential, it said.
