Infrastructure Investor Emerging Markets Forum 2021

Jussi Ahonen

Head of Digital Infrastructure and Solutions, Finnfund

Jussi works as a Senior Investment Manager at Finnfund, leading the origination and execution of Telecommunications, Technology, and Fintech -sector investments.

Recent transactions include investments into Lebanese Telecom-ESCO company IPT Powertech, South African based financial technology firm JUMO World, and a leading telecommunications operator in Iraq, Zain Iraq.

Prior joining Finnfund Jussi was a corporate finance advisor at EY and worked in various emerging markets investment banking roles at Standard Bank plc. Jussi holds a master’s degree in finance from Durham University and a bachelor’s degree in international business.

Finnfund

Finnfund is a development financier which builds a sustainable world by investing in responsible and profitable businesses in developing countries. We provide businesses operating in developing countries with risk capital, long-term investment loans, mezzanine financing and expertise on how to invest in the developing markets.

We expect our projects to be profitable, socially and environmentally responsible and produce measurable development impact in their target countries. Finnfund invests in businesses that drive sustainable development, whether they are companies are already operational or in the process of being set up.

Every year, we make 20-30 new investments worth 180-250 million euros and our current portfolio plus undisbursed decisions is nearly 1 billion euros.

Alexandrine Armstrong-Cerfontaine

Partner, Private Equity and Investment Funds, Goodwin

Alexandrine Armstrong-Cerfontaine is a partner in Goodwin’s Private Equity group and heads Goodwin’s Luxembourg practice. Her practice focuses on international fund formation and other fundraising SPVs, with particular expertise in private equity funds, debt funds and carried interest/co-investment arrangements and SPACs. She also advises fund-of-funds and secondary funds on all aspects of their activities, including fundraising, separate managed account mandates, fund investment and secondary transactions.

Alexandrine has been recognized as a Top Private Equity Practitioner in UK in Euromoney’s Women in Business Law Expert Guide 2021. Her team is described in the Legal 500 as ‘a funds practice that is ‘robust, responsive and well-priced’, she is ranked in Chambers & Partners and has been shortlisted at the 5th, 6th and 7th Annual Europe Women in Business Law Awards, Private Equity. The editorial also describes her as having ‘very good knowledge of fund regulation and set-up issues,’ ‘refreshing energy’ and ‘giving great comfort.’

Helen Beatty

Partner, Herbert Smith Freehills

Helen is a finance and projects lawyer specialising in transactions in the infrastructure, power and mining sectors.

Based in London, Helen has extensive experience advising both sponsors and financiers on major energy, infrastructure and mining projects. Helen has worked on traditional project finance and public private partnership structures together with acquisition and holdco financings for assets in those sectors. Helen is also very versatile and has experience with a number of more bespoke structured financings, including commodity prepayments, reserved based lending and specialised mining finance in both Europe and emerging markets.

Herbert Smith Freehills

With globalisation and population growth driving change in both developed and emerging markets, unprecedented investment sums are required for the development and maintenance of crucial infrastructure. As governments continue to face funding pressures, they need innovative solutions and delivery partners to provide the infrastructure required for tomorrow’s world. Our government and private sector clients trust us to work on their most complex, market-defining, 'first of a kind' projects and transactions. Our global infrastructure team has worked together over many years and has an outstanding record advising sponsors, contractors, funds, banks, governments and other public bodies on the complexities and nuances of regional and cross-border infrastructure and construction and engineering projects, transactions and disputes. We have a true depth of resource with over 200 lawyers across the firm’s international network focused on the infrastructure sector. With a multi-disciplinary global infrastructure team of world-leading sector specialists and regional experts, we provide commercial insight and legal advice from the consenting and planning process, through to construction, financing, operation, maintenance and ultimately the refinancing or sale of major projects and assets. Our infrastructure disputes lawyers guide our clients and help them to achieve the best commercial outcomes through settlement negotiations, litigation, arbitration, and all forms of alternative dispute resolution.

François Bergere

Executive Director, LTIIA

François BERGERE, joined the Long Term Infrastructure Investors’ Association (LTIIA) as Executive Director in September 2018. Before that, he served in the World Bank from 2014 to 2018 as Program Manager for PPIAF (Public-Private Investment Advisory facility) , a Technical assistance trust-fund aimed at creating an investment-enabling environment for private sector participation in infrastructure in developing countries. He has a diversified professional experience in the fields of public management, project and infrastructure finance, originally as an auditor at the French supreme audit institution , then manager of multinational Equity Investment funds in infrastructure; he was selected by the French ministry of Finance in 2005 to set-up the “Mission d’Appui aux PPP” (PPP unit) which he managed until 2014. He is a graduate of HEC Paris business school and Ecole Nationale d’Administration (ENA) .

LTIIA

Founded in 2014 by investors and for investors, LTIIA works proactively with public and private stakeholders around the world to ensure that sustainable infrastructure is delivered efficiently. Proactive engagement with policy-makers: Worked with the European Commission on shaping the new Solvency II legislation, with OECD on their infrastructure reports to G20, with the U.K. and Japanese regulators.

Delivery of investor tools: Together with EDHEC Infrastructure Institute developed benchmarking platform for long term infrastructure. Produced ESG Handbook and ESG Indicators Library for infrastructure investors.

Information exchange, education and training: Our conferences and events, in Europe, North America and Asia Pacific featured the most senior cohort in infrastructure to tackle industry’s issues.

LTIIA is a not-for-profit international association.

Jonathan Blake

Head Of International Private Capital Funds Strategy, Herbert Smith Freehills

Jonathan who is Head of International Private Funds Strategy at Global Law Firm, Herbert Smith Freehills, has been described as "arguably the most influential lawyer in the history of private funds, at least in Europe. He more or less invented the private equity limited partnership model, personally persuading the taxman to treat carried interest as capital gains in the process. Later, he wrote the rules for UK venture capital trusts, as well as leading the European Venture Capital Association's tax and legal efforts for 15 years. Often referred to as the 'father of fund formation', he was the first adviser elected into the British Venture Capital Association's 'Hall of Fame’ ". He founded the Private fund formation practice at SJ Berwin in 1982, and acted on the very first Limited partnership fund before helping the BVCA in their discussions with government. He has represented hundreds of GPs and LPs on fund formations and investments in funds of all types, sizes and geographies.

Brian Burns

Telecoms Strategy Director, PWC

Brian Burns undertakes corporate strategy and commercial due diligence assignments in the telecoms sector as part of our UK TMT Deals team.
Brian’s focus areas include telecoms operators (fixed, mobile, cable, B2B telecoms), infrastructure (towers, fibre and data centres) and the wider telecoms eco-system (hardware vendors, telecoms software, IoT players, etc.).
Prior to PwC, Brian spent nearly ten years advising investors and industry players on telecoms strategy issues at Analysys Mason.

Alexandre Chavarot

Founder, Climate Finance 2050

Alexandre Chavarot is an independent finance professional focused on delivering solutions to the challenges posed by climate change and sustainable development. He been advising clients on project & corporate acquisitions, risk assessments, investments and financings in the energy, infrastructure and maritime sectors with leading investment banks, foundations and advisory firms throughout his career.

Alexandre is the founder of Climate Finance 2050 Limited, through which he consults on climate and sustainability-related financial issues. He is also a Senior Adviser at ACCESS Corporate Finance, a London-based financial advisory firm providing M&A services.

He was until recently strategic finance adviser to the Coalition for Climate Resilient Investment, a private sector-led initiative committed to building resilience to a changing climate by promoting the efficient integration of physical climate risks in investment decision-making. He is also coordinating a report on financing resilient infrastructure, which will be submitted by the Coalition for Disaster Resilient Infrastructure at the G20 summit in India in 2023.

He started his career working on privatisations in Central and Eastern Europe, before joining Lazard’s corporate finance department in London. In 2009 he was appointed head of project finance and solar programme coordinator at the Clinton Climate Initiative – an endeavour of the William J. Clinton Foundation.
Alexandre is a member of the Chartered Institute for Securities & Investment in the UK and is on the advisory panel of the Climate Bonds Initiative. He is also a visiting lecturer at Sciences Po in Paris where he teaches climate change and finance.

Alexandre holds degrees from Sciences Po, the Harvard Kennedy School and INSEAD.

Simon Clark

Reporter, The Wall Street Journal

Simon Clark is a reporter at The Wall Street Journal in London. A British citizen, he has been a journalist since 2000, reporting on a wide range of financial, economic and political subjects that led him as far as the poppy fields of Afghanistan, the copper mines of Congo and to lots of banks and financial institutions in and around the City of London. He is @SimonWSJ on Twitter.

The Wall Street Journal

The Wall Street Journal was founded in July 1889. Ever since, the Journal has led the way in chronicling the rise of industries in America and around the world. In no other period of human history has the planet witnessed changes so dramatic or swift. The Journal has covered the births and deaths of tens of thousands of companies; the creation of new industries such as autos, aerospace, oil and entertainment; two world wars and numerous other conflicts; profound advances in science and technology; revolutionary social movements; the rise of consumer economies in the U.S. and abroad; and the fitful march of globalization.

Phil Cooper

Director, Digital Infrastructure Accelerator

Phil Cooper is a Director of the Digital Infrastructure Accelerator. The DIA exists to help accelerate investment in emerging market digital infrastructure. Currently the DIA is working with digital infrastructure investors and owners in Asia, Africa and Emerging Europe.

Previously, Phil was a Managing Director at Digital Bridge / Digital Colony, covering Europe, the Middle East and Africa. Before Digital Bridge, Phil was a founder and CFO of Apollo Towers Myanmar where he was responsible for two landmark infrastructure financing transactions.
Prior to Apollo, Phil worked with Eaton Towers as Group Commercial Manager, where he managed the acquisition of a number of MNO owned tower portfolios across sub Saharan Africa.

The Digital Infrastructure Accelerator (DIA)

Working closely with investors and management teams, the DIA exists to help accelerate the growth of emerging digital infrastructure ventures. The DIA works across all pillars of digital infrastructure and creates value through originating, vetting and where required creating investable neutral host platforms.
The DIA is focused on emerging infrastructure markets, including India, South East Asia, Africa and central & eastern Europe.

Hans-Peter Egler

Senior Director, Sustainable Infrastructure / Technical Assistance, South Pole Group

Hans-Peter Egler is currently Director Sustainable Infrastructure / Public Sector with South Pole. He has 30 years of experience in international cooperation in the areas of infrastructure, investment, trade, and production including environmental and social issues. Cooperation with businesses and financial entities of all kinds, the World Bank, regional development banks, various UN organisations, non-governmental organisations, industries, and retailers in Switzerland and in developing countries as well as government agencies in developing and industrialised countries. 20 years of experience in innovative project management at the interface between the economy, environment, and development cooperation. Prior of working with South Pole, Hans-Peter was heading the Global Infrastructure Basel foundation and before that the Division of Trade Promotion at the Swiss State Secretariat for Economic Affairs, where he used to work for 25 years.

South Pole

South Pole is a leading climate project developer and solutions provider.

Since its founding in 2006, South Pole has supported and provided climate finance to over 850 projects in more than 50 countries. Together, these projects have helped reduce over 200 million metric tonnes of CO2 emissions and provided measurable benefits to communities vulnerable to climate change. South Pole's projects accelerate the transformation across all sectors, including across sustainable land-use, ecosystem conservation, circular economy, and renewable energy.

South Pole also advises governments and thousands of leading companies on their climate journeys to achieve net zero emissions. With its global Climate Solutions platform, it implements comprehensive strategies that help organisations across the world build resilience and turn climate action into long-term business opportunities. Our global team of over 1,000 experts spread out over 42 locations across 6 continents. is trusted by many FT500 businesses and world-class investors around the world.

Granneman, Cathy IIGS ESG 2024 UPDATED CROPPED

Cathy Granneman

Manager, Member Relations, GRESB

Cathy Granneman is a Manager in the Member Relations team at GRESB, based in Amsterdam. She works with Infrastructure Fund and Asset Managers in the EMEA region to support them with their annual ESG reporting to GRESB and has previously worked on the development of the GRESB Infrastructure Assessments. Prior to joining GRESB Cathy worked in consulting roles at BAM Infraconsult and CBRE, specialising in sustainability in the built environment. She holds a Master's degree in Climate Change and a Master's degree in Economics and Policy of Energy and the Environment, both from UCL, and an honours Bachelor's degree from University College Utrecht.

GRESB

GRESB is a mission-driven and industry-led organization providing standardized and validated Environmental, Social, and Governance (ESG) data to financial markets. Established in 2009, GRESB has become the leading ESG benchmark for real estate and infrastructure investments across the world, used by 150 institutional and financial investors to inform decision-making. In 2023, the GRESB Real Estate and Infrastructure Benchmarks grew to include 2,084 real estate portfolios and 172 infrastructure funds and 687 assets, collectively representing USD 8.8 trillion in gross asset value.

Raza Hasnani

Managing Director and Head of Infrastructure Investments, Africa50

Raza Hasnani has over twenty-five years of private equity, infrastructure and impact investing experience across Africa, Asia and the Americas. He leads the infrastructure investments business at Africa50 (a $850 million investment platform) and is focused on making private equity and growth investments into core and soft infrastructure.

He has also led project and corporate financings for energy and infrastructure projects around the world while at Exxon Mobil Corporation in Dallas and Houston. He started his career at Deloitte in Philadelphia.

Mr. Hasnani has invested in renewable and conventional power projects, electric and gas utilities, pipelines, ports, terminals, upstream, refineries, transportation, and other energy and infrastructure assets around the world.

He holds an MBA from the Wharton School at the University of Pennsylvania and a BA from Franklin and Marshall College.

Africa50

Africa50 is a pan-African infrastructure investment platform that contributes to Africa’s growth by developing and investing in bankable, environmentally sustainable, medium to large scale infrastructure projects, with a focus on the energy, transport, ICT and midstream gas sectors. Africa50 catalyzes public sector capital and mobilizes private sector funding, while delivering differentiated returns and economic impact to its shareholders. It is uniquely equipped to accompany governments and investors throughout the project cycle thanks to its complementary project development and project finance arms. Headquartered in Casablanca, Morocco, Africa50’s investor base is currently composed of 28 African countries, the AfDB and two African Central Banks, with over US$871 million in committed equity capital.

Lucy Heintz

Partner, Actis

Lucy is Fund Head for Actis Energy Fund 5 (AE5), and is Board Chair of Lekela and Aela Energia, two of Actis’ renewable energy platforms. Lucy is also responsible for coordinating ESG and impact related efforts for the Energy Infrastructure Team, working closely with Actis’ specialist Responsible Investment Team. She chairs Actis’ Remuneration and Inclusion and Diversity Committees.

Prior to becoming Fund Head of AE5, Lucy was responsible for the Energy Infrastructure Teams activities in Africa (2017 to 2020) and renewable energy generation globally (2012 to 2017). She has 24 years of investment experience in growth markets, including five years of operational experience as a Project Director at Globeleq, a Fund 1 and Fund 2 portfolio company, in the business development team.

Lucy has led or been involved in deals across South Africa, Kenya, Brazil, Senegal, Egypt, Mozambique, Chile, Ghana, India, Nigeria and Tanzania.

Prior to joining CDC, Lucy worked at UBS Warburg from 1994 to 1999 as a Director in the fixed income division, latterly trading emerging market local currency bonds and interest rate derivatives in the South African, Czech and Greek markets.

Lucy holds an MA (Hons) degree in Politics, Philosophy and Economics (PPE) from Trinity College, Oxford and an MBA degree (with distinction) from INSEAD.

Actis

Actis, is a leading global private capital investor focused on building sustainable infrastructure for a better tomorrow. Actis has raised US $19bn since inception and operates with sustainability at its core. Through deep operational experience, on the ground presence and a value-led approach, Actis delivers competitive returns for its institutional investors and transformational positive impact for the countries, cities and communities in which it invests, what it calls ‘Values-drive-value’.
Actis is a signatory to the United Nations backed Principles for Responsible Investment (UNPRI), an investor initiative developed by the UNEP FI and the UN Global Compact. The firm has been awarded the highest rating score, A* for the third consecutive year in the UN Principles for Responsible Investment (PRI) independent assessment.

For more information, please visit www.act.is

Marie Lam-Frendo

CEO, Global Infrastructure Hub

Marie Lam-Frendo was appointed CEO by the Board of the Global Infrastructure Hub (GI Hub) in January 2019.

Prior to joining the GI Hub she was the Head of Asia-Pacific for Acuity, the advisory services business of the SNCL group, helping clients in regard to infrastructure project strategy and finance.

From 2011 to 2014, Marie headed the Infrastructure Initiatives department of the World Economic Forum, where she led their thought leadership activities, publishing thought leadership reports on best practices in the infrastructure sector. She led the dissemination effort of these best practices to governments and advocated to coalitions such as the B20 and the G20.

Before that, Marie worked for European utilities Essent then RWE where she drove their business development activities in the Africa and Central Asia region for various commodities, including their equity investment in LNG and hydro power plants.

Marie holds an MSc of Civil Engineering from EPF, an MSc of Marketing and Strategy from ESCP-EAP (Paris), and an MSc of Management and Leadership from WEF - in partnership with LBS and INSEAD. She is a Global Leadership Fellow of the World Economic Forum.

Sola Lawson

Co-Managing Director, African Infrastructure Investment Managers (AIIM)

Olusola was appointed Co-Managing Director in August 2020 and has more than 16 years of corporate finance and infrastructure equity investing experience across European and African markets.

Over the last decade, after founding the Nigerian office for AIIM, he was responsible for originating, executing and managing more than USD500m of equity invested in the digital infrastructure, power, renewables, midstream and transportation space across Africa. This included the co-development,
construction and successful exit of the Azura power project in Nigeria, the first project financed power deal to close in Nigeria in 20 years. He has served on several portfolio company boards, including Lekki Toll Road, Azura Power, Starsight Power Utilities, Tema LNG, Accugas, Savannah Uquo Gas Limited, and as a Board Observer at IHS Towers. Sola serves as a Director on the AIIM Board and is a member of the Executive Committee and the Business Review Group of Old Mutual Alternative Investments. Olusola is also a member of the AIIM Investment Committees, namely AIIF3 and IDEAS.

Previously he was an Investment Manager in Macquarie Group’s European Infrastructure Funds team in London, where he worked on a number of European infrastructure transactions in a principal capacity, and played a key role in portfolio company management, primarily in the petrochemical storage and transportation space.

Prior to joining Macquarie, Olusola worked at PwC London, where his focus was on transaction advisory services to a primarily private equity client base.

Olusola holds a B.Sc Economics (Hons) from the University College of London.

About African Infrastructure Investment Managers (AIIM)

African Infrastructure Investment Managers (AIIM) is one of the most experienced private equity investment managers with a 21 year track record focused exclusively on African infrastructure. AIIM currently manages USD2.0bn in AUM out of 5 regional offices on the continent with a portfolio extending across more than 63 investments, 29 exits and operations in 19 countries throughout sub-Saharan Africa across its 7 African infrastructure funds. The funds are designed to invest long-term institutional unlisted equity in African infrastructure projects such as toll roads, renewable energy, power generation, midstream energy, airports, ports and digital infrastructure assets.

Luis Fernando Lopes

Partner and Chief Economist, Patria Investments

Luis Fernando Eleutério Lopes is Partner & Chief Economist. Mr. Lopes is primarily responsible for supporting the firm’s diversified investment activities in Latin America. Mr. Lopes joined the group in 1996, when he held the same position at Banco Patrimônio, the predecessor of Patria.
From 1997 to 2003, Mr. Lopes was the Chief Economist and Strategist for Brazil at JP Morgan Chase, Chase Securities and Salomon Brothers. From 1990 to 1996, before working in the financial markets, Mr. Lopes was the Chief Economist and a Partner at MCM Consultores Associados and Tendências Consultoria Integrada, Brazil’s most prominent economic consultancy firms. Mr. Lopes holds a bachelor’s in economics Summa Cum Laude and a master’s degree in Economics Magna Cum Laude from the College of Economics and Business Administration of the Universidade de São Paulo. He is an authorized investment adviser by the Brazilian Security & Exchange Commission (CVM) and by the British Financial Conduct Authority (FCA).

Patria Investments

Patria is a leader in alternative asset management in Latin America with more than three decades of experience and 10 offices located across the world’s main financial centers. As of December 2022, Patria managed approximately USD 27.2 billion in assets which includes the following: Private Equity, USD 10.9 billion, Infrastructure, USD 5.8 billion, Credit, USD 4.7 billion, Public Equities, USD 2.1, Real Estate, USD 1.3 billion, and Advisory & Distribution, USD 2.3 billion. Size and track record over 33-year history combine to make Patria one of the most significant emerging markets-based private markets investment managers. According to Preqin’s 2020 Global Private Equity & Venture Capital Report ranks Patria as the number one fund manager by total capital raised for private equity funds in the past 10 years in Latin America.

Laurent Merlaut

Senior Investment Director, STOA Infra & Energy

Laurent Merlaut is a Senior Investment Director at STOA Infrastructure & Energy, a fund sponsored by Caisse des Dépôts et Consignations (CDC) and Agence Française de Dévelopement (AFD) dedicated to long-term infrastructure equity investments in emerging markets.
Laurent has a 20-year experience in finance and infrastructure. Prior to joining STOA, he was Senior Investment Officer in the Energy, Digital and Infrastructure department at Proparco (AFD Group), where he was notably responsible for the development of telecom investments. Before, as a Director within the Global Infrastructure team at Natixis, he arranged and advised on various types of telecom and power infrastructure financing. Laurent started his career with Alcatel-Lucent (now Nokia) as Project Manager in the international tendering department, covering Africa. He joined the banking industry as credit officer in charge of telecom, transportation infrastructure and real estate transactions at Dexia.
Laurent graduated in telecom engineering and completed an MSc in management and finance in HEC Paris, with a CEMS joint degree at Università Bocconi, Milan.

About STOA

STOA is an investment vehicle, created in 2017, held by the Caisse des Dépôts et Consigfnations (CDC) and the Agence Française de Développement (AFD), intended to finance new and existing infrastructure in emerging and developing countries.
Specialized in long-term investment in infrastructure and energy projects, we are committed to your side, united around a same vision of progress based on co-construction, entrepreneurship and project management. We finance greenfield projects to provide people with accessible, functional and clean infrastructure while contributing to the growth of sustainable and resilient economies.

Paul Munday

Director, Adaptation and Resilience, S&P Global Ratings

Dr. Paul Munday is a Director and S&P Global Ratings’ Climate Adaptation and Resilience Expert. He leads applied research focussing on the application of climate risk analytics, helping to improve clarity of the credit impacts of climate risks.

Paul has over 10 years of experience in both the UK and abroad, providing advice to private and public sector clients across multiple sectors to help mainstream consideration of climate resilience into projects and programmes. Prior to joining S&P Global Ratings, Paul worked in environmental consultancy.

He is a Chartered Scientist, Chartered Water and Environment Manager and certified expert in climate adaptation finance.

S&P Global Ratings

S&P Global Ratings is the world’s leading provider of independent credit ratings. Our ratings are essential to driving growth, providing transparency and helping educate market participants so they can make decisions with confidence. We have more than 1 million credit ratings outstanding on government, corporate, financial sector and structured finance entities and securities. We offer an independent view of the market built on a unique combination of broad perspective and local insight. We provide our opinions and research about relative credit risk; market participants gain independent information to help support the growth of transparent, liquid debt markets worldwide.

S&P Global Ratings is a division of S&P Global, the world’s foremost provider of credit ratings, benchmarks and analytics in the global capital and commodity markets, offering ESG solutions, deep data and insights on critical economic, market and business factors. S&P Global has been providing essential intelligence that unlocks opportunity, fosters growth and accelerates progress for more than 160 years.

Joe Nielsen

Partner, A. P. Moller Capital

Joe Nicklaus Nielsen is one of the founding Partners at A.P. Moller Capital – a private equity firm established in 2017. The purpose of A.P. Moller Capital is to develop infrastructure in growth markets to support sustainable economic growth while delivering attractive returns to its investors.

A.P. Moller Capital’s first fund is focused on Africa and closed with total commitments of USD 1.0bn. Joe has led fund operation and established A.P. Moller Capital as a regulated fund manager under FSA supervision. He has also directly led investments such as a grain infrastructure investment in Morocco and sits on the board in several portfolio companies.

Joe comes with over 18 years of experience from the infrastructure and transportation sectors and a large network in the infrastructure investment community. Prior to his current role, Joe was head of investments with the international port operator APM Terminals, based in The Netherlands, where his key accomplishments include securing a record number of investments including the USD 1bn acquisition of Grup Maritim TCB.

His operational experience matured over five years as CFO of APM Terminals USA during and after the global financial crisis, and thereafter as CEO of APM Terminals in Latin America overseeing activities in 13 countries with over USD 600m in revenue. He holds a master’s in finance and accounting from Copenhagen Business School.

A.P. Moller Capital

A.P. Moller Capital is an affiliate of A.P. Moller Holding and was established in 2017 to manage stand-alone funds to invest in infrastructure in emerging markets. We closed our first fund, The Africa Infrastructure Fund, in 2018 with a commitment of USD 1bn. The Africa Infrastructure Fund is an investment fund creating and enabling opportunities through investments in Africa infrastructure. This ranges from projects in transport and logistics, such as rail, roads, ports, and warehousing, to energy and utilities, including power plants, transmission, pipelines and distribution. The purpose of The Africa Infrastructure Fund is to support sustainable economic growth and prosperity on the continent, and at the same time deliver attractive returns to our investors.

Nadia Nikolova

Lead Portfolio Manager, AllianzGI

Nadia Nikolova is the lead portfolio manager for Allianz Development Finance strategy, managing over $1.8bn of blended finance commitments. Nadia joined AllianzGI over seven years ago originally as a portfolio manager in the Infrastructure Debt team and from 2016 has been focused on expanding AllianzGI’s presence in Emerging Markets including the infrastructure debt partnership with IFC Infrastructure (2017), Emerging Africa Infrastructure Fund investment (2018), the introduction of Allianz Asia Private Credit strategy (2019) and the MIGA COVID-19 Response Program (2020), IFC One Plante (2021).

Prior to joining AllianzGI, Nadia worked at the Project and Infrastructure Finance team at Citigroup based out of London.

Nadia is an non-executive director for the International Project Finance Association (IPFA) and the Long Term Infrastructure Investor Association (LTIIA). In addition, Nadia is part of the Taskforce advising the G7 on Scaling Impact Investing and represents the private sector view on the DFI Transparency initiative.

Nadia holds a BSc in Economics from the University of Essex and has graduated from Harvard Business School Executive Program for Leadership and Development.

In 2016, Financial News awarded Nadia one of 40 under 40 professionals in Asset Management.

Allianz Global Investors

Allianz Global Investors is a leading active asset manager with over 700 investment professionals* in 25 offices worldwide and managing more than $630 billion in assets for individuals, families and institutions.

Active is the most important word in our vocabulary. Active is how we create and share value with clients. We believe in solving, not selling, and in adding value beyond pure economic gain. We invest for the long term, employing our innovative investment expertise and global resources. Our goal is to ensure a superior experience for our clients, wherever they are based and whatever their investment needs.

Shami Nissan

Partner, Head of Sustainability, Actis

Shami leads Actis’ approach to sustainability, ESG and impact, working closely with investment colleagues and portfolio company management to assess and manage sustainability issues, helping to build world-class businesses which are leaders in sustainability, and which deliver measurable benefits to society and the planet. Shami is a member of the Actis Leadership Team and Inclusion and Diversity Committee. Shami’s role as a member of Actis’ Leadership Team includes setting out and delivering the firm’s sustainability strategy. With over 20 years’ experience in responsible investment, primarily serving the private equity, banking and development finance sectors, Shami was drawn to Actis by its leadership in sustainable investing, the firm’s diverse culture and the opportunity to focus on global infrastructure markets. Since joining Actis, Shami and her team have developed two key proprietary tools – the Actis Impact Score, rooted in the UN SDGs to measure impact, and the Transition Tool, to facilitate assessment of climate-related risks in the diligence process. The latter is a key tool to support the firm’s Net Zero 2050 commitment, and Shami chairs the internal Net Zero Steering Committee.

Before joining Actis in 2014, Shami was a senior consultant at PwC’s Sustainability and Climate Change team for ten years. Prior to this, Shami led the London business of Innovest Strategic Value Advisors, providing sustainability research and analytics to institutional investors and asset managers. Shami has also worked with the United Nations Development Programme in Central America.

Shami holds an MSc Environmental Technology, with Distinction, from Imperial College London and a BSc Biological Sciences from Durham University.

Actis

Actis is a leading global investor in sustainable infrastructure. Actis has raised $US25 billion since inception and has more than US$15 billion assets under management, operating from 17 offices across five continents, with a team of over 150 investment professionals.

Actis’ global experience, operational know-how and strong culture allows it to build and operate global sustainability leaders of scale, while delivering competitive returns for institutional investors and measurable positive impact for the countries, cities and communities in which it operates.

Actis is a signatory to the Net Zero Asset Managers Initiative and has committed to aligning 60% of it’s total assets under management (AUM) with Net Zero by 2030.

Actis is a signatory to the United Nations backed Principles for Responsible Investment (UNPRI), an investor initiative developed by the UNEP FI and the UN Global Compact. The firm has consistently been awarded the highest rating score in the UN Principles for Responsible Investment (PRI) independent assessment.

Opuiyo Oforiokuma

Senior Partner, Africa50 Infrastructure Acceleration Fund

An infrastructure specialist with over 30 years of global experience, Opuiyo is currently Senior Partner of the Africa50 Infrastructure Acceleration Fund, established to mobilize public and private capital globally for investment in infrastructure projects across Africa. Prior to that, he was the Senior Director responsible for strategy, investor relations, and ESG at Africa50, a pan-African infrastructure investment platform headquartered in Morocco, and focused on early-stage project development, late-stage equity investment, and capital mobilization.

Prior to joining Africa50, Opuiyo was Managing Director/CEO of the pioneering ARM-Harith Infrastructure Fund based in Nigeria, focusing on early-stage project development, equity investment in West African transport, energy, and utilities projects, and on exits.

Previously Managing Director/CEO, Lekki Concession Company, he led the pioneering Lekki PPP Toll Road Concession in Nigeria (the first such concession in West Africa) through development, financial close, execution, and eventually to exit.

He previously held various roles at RWE Thames Water Group, the UK’s largest privatized Water Utility. These included Finance Director, Thames Water International; Business Performance Director, Latin America, Thames Water Chile; and Vice President, American Water.

Opuiyo is a regular speaker at international conferences and other forums and has had several articles published in international business reports and magazines, actively engaging in thought leadership on infrastructure policy, financing, and implementation across Africa and beyond.

Felipe Pinto

Partner and Head of Infrastructure Brazil, Patria Investments

Mr. Pinto is a Partner & Head of Infrastructure Brazil. He is primarily responsible for managing funds and investments in infrastructure business unit as well as new investments in Brazil. Before joining Patria, Mr. Pinto spent three years at Cargill. There, he was responsible for business development at Cargill in South America. While in this position he designed and executed Cargill’s entry strategy in the corn milling business in Argentina. Later, Mr. Pinto became a senior line executive, where he was primarily responsible for one of Cargill´s businesses in Brazil. Prior to Cargill, Mr. Pinto worked at Bain & Company in the São Paulo and Johannesburg offices. Mr. Pinto advised leading local and multinational companies in connection with the design of growth strategies, business unit strategies, cost reduction and turnaround programs. Mr. Pinto earned a B.A. in Business Administration from Fundação Getulio Vargas (FGV), a Certificate of Special Studies in Management from Harvard University and an M.B.A. from Insead Business School in France.

Patria Investments

Patria is a leading alternative investment firm focused on Latin America, with over 30 years of history and combined assets under management of $26.5 billion, and a global presence with offices in 10 cities across 4 continents. Patria aims to provide consistent returns in attractive long-term investment opportunities that allow for portfolio diversification through its Private Equity, Infrastructure, Credit, Public Equities and Real Estate products.

Marcus Steinig

CFO, Harvest Waste

Marcus is one of the founders of Harvest Waste, a developer of large-scale waste-to-energy projects around the world using proprietary High-Efficiency Technology with a negative Carbon footprint. Harvest Waste is the only firm in the world that develops waste-fired energy plants, which can operate without gate fees purely on electricity income, while meeting highest environmental and ESG standards.

Marcus has more than 20 years of experience in infrastructure investments, private equity, and transaction advisory. He was global head of M&A for Arcadis, Investment Director for Rabobank Infrastructure and Manager at H2 Equity Partners. Marcus holds an MSc in Finance and Economics of the University of Maastricht.

Harvest Waste

Harvest Waste (formerly AWECT) is a project development and consultancy company based in the Netherlands. We are a spin-out of AEB Amsterdam, the public waste management company of the city of Amsterdam, capital of the Netherlands. We bring over 140 years of waste management experience and more than 100 years of Waste-to-Energy (WtE) plant development, design, engineering, and operational knowledge to the rest of the world. Together with local governments and partners, we aim to build High Efficiency (HE) WtE plants that eliminate the need for landfills at the lowest possible cost to societies; powering large scale urban cleanup where it is needed most. Our team consists of experienced investors, waste experts, engineers and ex-government officials who are connected by a strong drive to tackle climate change through implementation of large scale sustainable and affordable waste management solutions.

Katherine Stodulka

Partner, Sustainable Finance, SYSTEMIQ

Katherine is a Partner at Systemiq – a system-change advisory and investment firm – where she leads the Sustainable Finance platform and is head of the London office. Katherine drives Systemiq’s country transition finance work including on JET-Ps and supports financial institutions to set and implement net zero strategies including structuring climate funds and investment opportunities, integrating climate risk, accessing catalytic capital and assessing impact.

Katherine is the Chair of the Blended Finance Taskforce, a global coalition set up to unlock public, private and philanthropic capital for people and planet, helping design, fundraise and develop pipeline for new financial products & vehicles to accelerate net zero, nature positive and more inclusive investment. She has helped design and launch blended finance vehicles and platforms including SDG Namibia One for green hydrogen and the Global Fund for Coral Reefs – the world’s first largescale adaptation fund targeting $1bn. She leads Systemiq’s work on JET-Ps, with a focus on South Africa and Indonesia.

Katherine was instrumental in structuring Indonesia’s $3bn sustainable infrastructure platform with the Ministry of Finance (launched at the 2018 World Bank Annual Meetings in Bali; a third of the fund has since been deployed). She helped design the Actis Transition Tool and has led the work for reports like Making Climate Capital Work: Unlocking $8.5bn for South Africa’s Just Energy Transition and Better Finance, Better World.

Katherine is on the Advisory Board for Credit Suisse’s “Responsible Consumer Fund” investing in SDG12 and is a Fellow to Studio 8 FOLD which specialises in sustainable architecture and design. Before joining SYSTEMIQ, Katherine was a lawyer in Australia and the UK specialising in M&A and project finance for energy and major infrastructure, graduating with First Class Honours.

Katherine has just been awarded Environmental Finance’s “Net Zero Champion of the Year” for 2022.

SYSTEMIQ

SYSTEMIQ is both an impact advisory and investment firm, created to tackle system failures by mobilising talent and capital to cultivate, incubate and scale solutions that accelerate system change and deliver improved economic, environmental and social value across the energy, land use and circular economy space. SYSTEMIQ’s purpose is to demonstrate that a low-carbon, regenerative and socially just economy can out-compete today’s highly polluting, unequal systems - and this system change is possible at speed and scale over the next decade.

Sarvesh Suri

Director - Climate, Energy, Extractives, Financial & Capital Markets , MIGA

Sarvesh Suri is IFC’s Regional Industry Director, Infrastructure & Natural Resources (INR), Africa, based in Johannesburg, South Africa. His leads a continent-wide team to develop and implement the Infrastructure & Natural Resources strategy and business priorities in Africa, working along with the World Bank Group and other partners. IFC is growing its business and impact in the region, and is launching initiatives to mitigate the critical, sustainable infrastructure gaps facing the region today. He leads long-term finance, i.e. equity and loan investments, with private sector businesses of circa US$2 billion per annum on the continent.

Prior to this role, Sarvesh was MIGA’s Operations Director for Climate, Energy, Extractives, Capital and Financial Markets industries. Earlier, he had led the Agency’s operations globally for over 5 years. During this time, MIGA’s business grew considerably to a portfolio of over US$24 billion, with impact in priority areas of climate finance, and IDA/ FCS countries.

Before MIGA, Sarvesh was with IFC for over 15 years in various leadership roles, including as Senior Regional Manager for Indonesia, Malaysia and Thailand, Special Assistant to IFC’s EVP & CEO, and Senior Investment Officer.

Sarvesh is an Indian national and holds a Post-Graduate Diploma in Business Management from the Indian Institute of Management, Ahmedabad, and a Bachelor's degree in Mechanical Engineering from Delhi University.

Multilateral Investment Guarantee Agency (MIGA)

The Multilateral Investment Guarantee Agency (MIGA) is a member of the World Bank Group. Our mandate is to promote cross-border investment in developing countries by providing guarantees (political risk insurance and credit enhancement) to investors and lenders.

Our guarantees protect investments against noncommercial risks and can help investors obtain access to funding sources with improved financial terms and conditions. The agency derives its unique strength from the World Bank Group and from its structure as an international organization whose shareholders include most countries of the world. This enables us to provide an umbrella of deterrence against government actions that could disrupt projects, and assist in the resolution of disputes between investors and governments. We also add value through our ability to offer clients extensive knowledge of emerging markets and of international best practice in environmental and social management.

Jackie B. Surtani, Asian Development Bank

Jackie Surtani

Director – Infrastructure Finance, Asian Development Bank

Jackie Surtani was appointed Director of the Infrastructure Finance Division that covers East Asia, Southeast Asia and the Pacific Islands in April 2017.
Prior to ADB, Jackie led the risk function of Siemens Financial Services’ Asian commercial finance unit as their Regional Chief Risk Officer and was responsible for a team of 80 staff in China and India. Jackie began his career at Chase Manhattan Bank (now JP Morgan) as Director of Global Power and Project Finance; was a Director for Global Project Finance at Credit Suisse; and Head of Project Finance Asia Pacific at KBC Bank for 14 years.
Mr. Surtani has 30 years of successful experience in Asia infrastructure leading and advisory. He has a strong credit philosophy and sector and regional knowledge across the entire energy chain (i.e power generation, renewable energy, LNG), infrastructure and telecommunications.
Mr. Surtani is a national of the United Kingdom. He obtained his Bachelor of Science Degree in Business Finance and Economics from the University of East Anglia in 1988 with a First Class Honours degree. He obtained his Master of Philosophy Degree in Management Studies from the University of Oxford in 1990.

Asian Development Bank (ADB)

The Asian Development Bank (ADB) envisions a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty in the region. Despite the region's many successes, it remains home to a large share of the world's poor: 263 million living on less than $1.90 a day and 1.1 billion on less than $3.20 a day.
ADB assists its members, and partners, by providing loans, technical assistance, grants, and equity investments to promote social and economic development.
ADB maximizes the development impact of its assistance by facilitating policy dialogues, providing advisory services, and mobilizing financial resources through cofinancing operations that tap official, commercial, and export credit sources.

Michel Andre Volle

Global Head of Funding and Investors Relations, Meridiam

Michel-André Volle joined Meridiam in 2019 to become global head of investors relations and funding solutions. His role includes notably the fundraising activities, as well as the coordination and supervision of the different project financings throughout the different geographies where Meridiam operates. Prior to joining Meridiam, he was a managing director at HSBC, in charge of infrastructure finance for continental Europe, and was involved in the successful closing of more than 30 PPP / concessions transactions across Europe and Sub-saharan Africa. He started his career as an investment officer at Suez, as a member of the development team in charge of water projects, primarily based in Latin America.

Jochen von Frowein

Director –Infrastructure & Energy, Global Equity, DEG

Jochen von Frowein heads the newly established team responsible at DEG for direct equity investments in infrastructure and energy as well as commitments to infrastructure equity funds in emerging markets.

Previously, he focused on Project Finance in Latin America, private equity investments in Africa and, most recently, was responsible for DEG’s Equity Latin America team. Prior to DEG, Jochen worked for Roland Berger Strategy Consultants in Germany and Nigeria and held various roles in Corporate Banking for BHF-Bank, Dresdner Bank and Commerzbank.

Jochen holds a degree in business administration from Frankfurt School of Finance and Management, a Master’s Degree in African Studies from SOAS (London) and is a CFA Charterholder.

DEG

For almost 60 years DEG has been a reliable partner to private-sector enterprises operating in developing and emerging-market countries. We provide our customers with tailor-made solutions, including financing, promotional programmes and advice tailored to individual needs. They can thus develop successfully and sustainably, while generating local added value and creating qualified jobs. With our portfolio of around EUR 8.5 billion in approximately 80 countries we’re one of the world’s largest private-sector development financiers.

Helmut Von Glasenapp

Secretary-General, European Long-Term Investors Association

After an apprenticeship in banking Helmut (born 1962) studied business administration in Germany. He gained his first business experience with reuhandanstalt, the former privatisation agency in the eastern part of Germany. 1993 he joined KfW in the Berlin office. From 1997 until 2005 he invested on behalf of KfW in Venture Capital and Private Equity Funds and managed a part of the innovation financing division of KfW Frankfurt. In 2005 he was asked to assist the European Commission as a Seconded National Expert notably to prepare an Equity Promotional Programme for SMEs. In 2007 he continued in Brussels as head of the KfW Liaison Office to the European Union before he was appointed as member of the EU Task Force for Greece of the European Commission until 2015. He joined the Brussels based Secretariat General of the European Long Term Investors Association in 2016 and was elected as ELTI Secretary General in October 2016.

Helmut is married and has 4 children.

Mujde Zeynel

Senior Advisor, Istanbul PPPCoE

Mujde Zeynel is an international infrastructure professional with more than 12 years of experience with institutional infrastructure investors and governments across developed and developing markets. Mujde is currently a Senior Advisor at the Istanbul PPP Centre of Excellence and an Infrastructure Advisor as part of the World Bank/EU funded 'Sustainable Cities' Program. Prior to that Mujde has held various roles at the G-20 initiative Global Infrastructure Hub, AMP Capital and more broadly AMP Limited.
Mujde holds a Master’s degree in East Asian Studies from Columbia University, which she earned as a Fulbright scholar, and a Bachelor's Degree of International Relations from TU-Dresden in Germany.

Istanbul PPPCoE

PhD Consulting is “Investment and Management Consulting” company, specialized in investment opportunities in Turkey and international markets. Our motto is, “Dedication – Motivation – Action”, we generate quick and result oriented solutions which are fitting our customers’ needs. As PhD Consulting, we have a huge experience and network in every facet of business life cycle in Turkish market. PhD Consulting is one of the Turkish pioneer consulting companies which dreams building bridges between investors from all over the region. Our experienced, expert and academic consultants support our customers in every stage, from A to Z of investment. PhD’s proposed methodology is structured to control the time, cost and quality of the investment project, to enhance the success of the project and increase Client’s satisfaction. The systematic application of development and management tools, to determine the optimum development plan, to develop project management systems and to propose innovative investment opportunities are our key points.

Jason Zhengrong Lu

Head of Global Infrastructure Facility, World Bank

Jason Z. Lu joined the GIF as Lead Infrastructure Finance Specialist after ten years of working at the Multilateral Investment Guarantee Agency (MIGA) of The World Bank Group. While at MIGA, Jason worked on a broad range of complex energy and infrastructure projects worldwide. He has built expertise in managing and closing complex projects and advising clients on infrastructure financing, risk mitigation and credit enhancement to support their investment and financing needs in emerging markets and developing economies. Jason started his banking career with Bank of America in its Global Project Finance Group in 1996 where he was responsible for transaction structuring and execution. He also worked at ABB Energy Capital with responsibilities for renewable energy financing in the United States and State Street Bank and Trust Company in credit and portfolio management. Jason holds graduate degrees from Yale University (MBA), Central European University (Prague), and China’s Peking University.

The Global Infrastructure Facility (GIF)

The Global Infrastructure Facility (GIF) supports end-to-end transaction advisory services to governments in developing countries to build pipelines of bankable, sustainable infrastructure programs and projects that are attractive to private capital. As a global collaboration platform, the GIF connects governments, multilateral development banks, private sector investors and financiers, and other infrastructure stakeholders to deliver climate-smart and trade-enabling infrastructure in developing countries.

The comprehensive project support provided by the GIF draws on the combined expertise of its Technical and Advisory Partners. The GIF works with Multilateral Development Banks (MDBs) which serve as Technical Partners and commercial banks and institutional investors which serve as Advisory Partners. Together this group ensures that well-structured and bankable infrastructure projects are brought to market in a way that sustainably meet the needs of governments and service users. The GIF is supported by the contributions of its Funding Partners, which include the Governments of Australia, Canada, People’s Republic of China, Japan, Singapore, as well as the World Bank.

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Executive Director, LTIIA

Managing Partner and CEO, A.P. Møller Capital

Partner, Actis

Lead Portfolio Manager, AllianzGI

Director - Climate, Energy, Extractives, Financial & Capital Markets , MIGA

Partner, A.P. Moller Capital

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Agenda

Emerging Markets Forum - Monday 18th

Introduction from Infrastructure Investor

Welcome from the chair

Mujde Zeynel

Outlook of emerging market infrastructure in a post-pandemic world

Jonathan Blake

Luis Fernando Lopes

Opuiyo Oforiokuma

Jackie Surtani

Comparing regulatory environments: is it becoming easier for private capital to access opportunities?

Alexandrine Armstrong-Cerfontaine

François Bergere

Marie Lam-Frendo

Helmut Von Glasenapp

Michel Andre Volle

Coffee & networking

The role of infrastructure in achieving SDGs and net-zero in emerging economies

Hans-Peter Egler

Raza Hasnani

Shami Nissan

Felipe Pinto

Sarvesh Suri

Defining and mitigating climate risks to infrastructure projects

Katherine Stodulka

Alexandre Chavarot

Cathy Granneman

Laurent Merlaut

Paul Munday

Switchover time

Keynote: ‘The Key Man’ explored- lessons learned from the fall of Abraaj

Simon Clark

Networking lunch with ESG and Sustainability & Social Infrastructure Forums

Collaboration with development banks: sector and country cases

Helen Beatty

Nadia Nikolova

Jason Zhengrong Lu

Jochen von Frowein

Coffee & networking

The landscape of digital investment opportunities in growth markets

Brian Burns

Jussi Ahonen

Phil Cooper

Sola Lawson

Future-proofing the energy transition in emerging markets

Marcus Steinig

Lucy Heintz

Joe Nielsen

Closing comments from the chair

Mujde Zeynel

Head of Digital Infrastructure and Solutions, Finnfund

Partner, Private Equity and Investment Funds, Goodwin

Partner, Herbert Smith Freehills

Executive Director, LTIIA

Head Of International Private Capital Funds Strategy, Herbert Smith Freehills

Telecoms Strategy Director, PWC

Founder, Climate Finance 2050

Reporter, The Wall Street Journal

Director, Digital Infrastructure Accelerator

Senior Director, Sustainable Infrastructure / Technical Assistance, South Pole Group

Manager, Member Relations, GRESB

Managing Director and Head of Infrastructure Investments, Africa50

Partner, Actis

CEO, Global Infrastructure Hub

Co-Managing Director, African Infrastructure Investment Managers (AIIM)

Partner and Chief Economist, Patria Investments

Senior Investment Director, STOA Infra & Energy

Director, Adaptation and Resilience, S&P Global Ratings