Private equity firm, A P Moller Capital said it has closed a Morocco focused transport and logistics fund under the Mohammed VI Investment Fund initiative, a state owned sovereign investment vehicle created as an economic recovery lever to catalyse productive investment and support job creation.
The Mohammed VI Investment Fund, set up as a joint stock company fully owned by the state with initial share capital of 15 billion dirhams, says its mandate is to finance and support projects and companies in strategic sectors and to crowd in private capital.
A P Moller Capital’s local manager, APM Capital Morocco S A, said the APM Capital Morocco Fund reached a final close with commitments of 1.64 billion dirhams.
A P Moller Capital Emerging Markets Infrastructure Fund II K S committed an additional 600 million dirhams alongside it, taking total capital available for Morocco transport and logistics investments to 2.24 billion dirhams.
The fund will target international express logistics, third party logistics, air cargo handling and cold storage, and will be led by APM Capital Morocco chief executive Ghislane Guedira.
Kim Fejfer, chief executive of A P Moller Capital, said: “Morocco is a priority market for A P Moller Capital, supported by strong macroeconomic fundamentals, rising near shoring activity and sustained investment in transport and logistics infrastructure.”
Ghislane Guedira, CEO of APM Capital Morocco said “the strategy mobilises both domestic and international capital into Morocco’s transport and logistics sector.”
“We will focus on developing and scaling high-quality businesses and supporting their long-term operational performance and growth.”
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