Angola Sovereign Fund invests US$1.6 billion in development funds

11 December 2014

The Angola Sovereign Fund has applied US$1.1 billion in an Infrastructure Fund and US$500 million in an investment fund for the hotel industry in Africa, according to the Sovereign Fund’s report and accounts for the third quarter of 2014.

A statement sent to Macauhub, for the period from 1 July to 30 September, said the net value of the Fund stood at US$4.95 billion.

The Infrastructure Fund will focus on capital investments in major energy, transport and industry projects, both in Angola and in sub-Saharan Africa.

The Hospitality Fund for Africa is intended to deploy capital in projects to increase hotel capacity of international quality across the continent, and is a vehicle for taking on debt, potentially increasing investment capacity.

The Angola Sovereign Fund, which was officially established in 2012 with an initial allocation of US$5 billion, will gradually diversify its investment portfolio to a number of industries and asset classes, including private and public equities, bonds, foreign currency, financial derivatives based products, treasury bonds and real estate and investment funds.

“When looking for investments that generate financial returns that are sustainable in the long term, the Angola Sovereign Fund will have an important role in promoting the socio-economic development of Angola through wealth creation for the Angolan people,” according to the Fund’s website. (macauhub/AO)