Dubai-based pan-African industrial developer Arise Integrated Industrial Platforms (Arise IIP) raised USD 700 mn from Saudi infrastructure developer Vision Invest, according to a press release. The transaction — one of Africa’s largest private infrastructure financings to date — included both primary and secondary components.

The details: Vision Invest joined Arise IIP as a new shareholder, marking the Saudi player’s first direct investment in Africa. Existing shareholders include the Fund for Export Development in Africa — the development impact investment platform of Afreximbank — Africa Finance Corporation (AFC), and Equitane.

Where will the money go? The new capital will fund ARISE IIP’s expansion across Africa, where it operates integrated industrial zones in more than 14 countries. Since its founding in Gabon in 2010, the company has deployed around USD 2 bn in infrastructure projects and created over 50k jobs.

ADVISORS- Standard Chartered Bank and Norton Rose Fulbright advised ARISE IIP, while EFG Hermes and Linklaters advised Vision Invest.

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