GuarantCo, part of the Private Infrastructure Development Group (PIDG), has been fully integrated into the group, aiming to help PIDG remain competitive by leveraging synergies to maximise market opportunities and attract new sources of capital, according to an announcement.
This integration follows the acquisition of GuarantCo Management Company from Cardano Development, which has managed the fund since 2016.
The changes to the operating model are aligned with Group Strategy 2023-30 prioritising the scaling of impact in terms of access to sustainable infrastructure and improved climate resilience, where it is most urgently needed across Africa and Asia.
Through this structural change, PIDG aims to achieve a more deliberate, coordinated product strategy and project origination towards its vital mission.
“Bringing GuarantCo fully in-house is part of the natural evolution of PIDG, which began with a reorganisation in 2018, with the long-term vision of increasing our competitiveness and visibility in the market. I would like to thank Cardano Development for their management of the fund over the past 10 years,” said Philippe Valahu, CEO, PIDG.
“This structural change is a strategic step forward, strengthening our investment approach and scaling the delivery of meaningful impact for our clients. With a unified brand and end-to-end solutions, PIDG is well positioned to build upon our 25-year track record to further accelerate climate action and sustainable development where it is most urgently needed,” he added.
“When we assumed management, GuarantCo had a small team and a $200-million portfolio, but had yet to define its ambition. Today, GuarantCo stands as a recognised thought leader, operating at the forefront of blended finance, infrastructure development, and emerging market risk mitigation. We are honoured to have been part of this journey and look forward to seeing GuarantCo continue to thrive in its next chapter,” said Joost Zuidberg, CEO, Cardano Development.
GuarantCo mobilises private-sector local currency investment for infrastructure projects while supporting financial market development across lower-income countries in Africa and Asia. Part of PIDG, it is backed by the governments of the UK, Switzerland, Australia, and Sweden through the PIDG Trust, alongside support from the Netherlands via FMO and the PIDG Trust, as well as Global Affairs Canada and France through a standby facility.
Since 2005, GuarantCo has facilitated $7.1 billion in total investment, including $6.8 billion from private-sector investors.
PIDG is an innovative infrastructure project developer and investor which mobilises private investment in sustainable and inclusive infrastructure in sub-Saharan Africa and south and southeast Asia.
Since 2002, PIDG has supported 258 infrastructure projects to financial close, which provided an estimated 232 million people with access to new or improved infrastructure.
