Revego Fund Managers is a majority
black owned fund manager, with significant expertise in the renewable energy sector and the fund manager of the Revego Africa Energy Fund.
About Revego Fund Managers
Revego Fund Managers (RFM) is a South African based investment manager, primarily focused on investing in renewable energy assets across sub-Saharan African (SSA).
Founded in 2019, RFM’s investment philosophy is grounded in active asset management through board stewardship and deliberate engagement with management teams to drive sustainable shared value for investors and communities. This allows RFM to unlock value enhancements which are underpinned by strong governance principles.
The RFM management team’s experience in renewable energy, infrastructure finance, M&A, investment banking and capital raising spans over 60 years and is further bolstered by an investment committee consisting of industry experts and experienced investment officers.
Revego Fund Managers has a mandate to manage third party funds and holds a Category II FSP Licence issued under FAIS, allowing it to provide intermediary services on a discretionary basis.
Our Why
The SSA electricity sector requires major investment over the next 25 years as more than 600 million people in SSA currently live without access to electricity.
To meet this need, a blend of public and private funds must act in a coordinated effort to enable the growth of the renewable energy sector. A significant portion of this investment will be led by the private sector. The Revego Africa Energy Fund that is managed by RFM, is well-positioned to capitalise on this urgent need for investment.
The Revego Africa Energy Fund’s mandate is primarily focused on acquiring de-risked operating renewable energy assets. This provides developers and early-stage investors with an exit opportunity to recycle their capital towards the development of new megawatts. Consequently, investors in Revego Africa Energy Fund gain access to long-term inflation-linked, sustainable cashflows.
Revego highlights
Current Fund Size of
ZAR2 Bn
The current size of the Revego Fund is ZAR2 billion, with Investec Bank Limited, UK Climate Investments (UKCI) and Eskom Pension and Provident Fund (EPPF) as cornerstone investors.
Our Experienced Renewable Energy Team
Funds Under Management
As part of its mandate to manage the Revego Fund, RFM is required to evaluate potential investment decisions according to the following key investment principles:
The Revego Fund will not finance development costs or provide debt that does not have an equity risk associated with it.
The project needs to fall within the jurisdiction of Sub-Saharan Africa
The shareholding required is predominantly significant minority shareholding requirement, with at least one Board seat required as financial investor
The investment instruments will include shares, shareholder loans and those producing equity-like returns
The status of your company or project will need to be operational, or at least near operational.
Why invest with Revego?
Strategic renewable energy investments delivering robust returns and sustainable outcomes
Semi-Annual Dividends
Target return of South African CPI + 5% – 7% over the long term
Risk-Adjusted Returns
Diversified portfolio with long-term inflation linked-tariffs underpinned by government guarantees
Long-Term Growth Potential
Value unlock opportunities with asset useful lives beyond the initial power purchase agreement period
Secondary Renewable Energy Market
Allows exiting developers to recycle their capital towards the development of new megawatts
Clean Energy Investment
Investing proven clean energy projects in SSA, eliminating greenhouse gas emissions
Uplift Local Communities
Driving socio-economic and local enterprise development expenditure at portfolio companies aligned to community needs
Funds Details
South Africa
Fund Domicile
Utility Scale Renewable Energy Projects
Fund Mandate
August 2021
Initial Close
Permanent Captial Vehicle
Fund Term
ZAR 1.8bn
Initial Commitments
Equity in sub-Saharan Africa
Target Assets and Region
About Revego Africa Energy Fund
The Revego Fund is a private equity fund and is structured as an en commandite partnership.
The Fund is a private equity fund and is structured as an en commandite partnership. The following parties are the primary role players in relation to the Fund: the Limited Partner (Revego Africa Energy Limited), the General Partner, the Fund Manager (Revego Fund Managers), the Investment Committee and the Advisory Board.
Target Fund Size
Revego Africa Energy Fund
RFM’s first fund under management is the Revego Fund as of September 2019.
Focused on the electricity sector in Sub-Saharan Africa where there is a proven need for investment. The Revego Fund invests in a well-balanced mix of utility-scale operating renewable energy projects in Sub-Saharan Africa. The Fund seeks equity or equity-like returns and targets minority equity interests.
If you are a shareholder or promoter of an operational renewable energy company who is looking for a fund to buy your investment or invest alongside you, Revego may be able to provide you with this opportunity. In addition to an experienced management team, RFM has an investment committee consisting of industry experts and experienced investment officers.
Portfolio Companies of Revego Africa Energy Fund
Sustainability
960,000
Homes powered
2,258,709
MWh
Energy generated in 2022
2,210,000
Tons
Greenhouse gas emissions eliminated p.a
ZAR 94
Million
Invested in community programs in 2022
Sustainability is core to Revego’s mission and approach. Each project that Revego invests in supports socio-economic development by investing in local communities in terms of their community needs analysis. The projects enhance the participation of the wider communities, helping to transform the lives of marginalised groups in South Africa
Special Needs School
Special Needs School in the Western Cape. Caters for students with learning difficulties, physical disabilities or behavioural problems in the local community.
Youth Centre
IT training at a Youth Centre in Limpopo which is managed by LoveLife. The Youth Centre includes a computer lab, outdoor gym and serves a meeting point for social workers to engage young people.
New Ablution Facilities
Newly installed ablution facilities at a high school in Limpopo. The toilets replace the pit latrines which previously posed a health risk to students.
Local Farmer
Local farmer based in Limpopo cultivates vegetables for sale to a broad customer base. The farm employs community members throughout the year.
Early Childhood Development
Teachers and learners celebrate the opening of their newly built ECD facility in Limpopo. The building includes additional rooms for teaching and ablution facilities.
Community Healthcare
Two vehicles purchased to be used by health workers in the district to enable access to occupational and physiotherapy services closer to communities in the Northern Cape.
News
Contact us
If you are a shareholder or promoter of a company who is looking for a fund to buy your investment or invest alongside you, Revego may be able to provide you with this opportunity.
