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Convergence Partners has announced the successful close of its Convergence Partners Communication Infrastructure Fund (CPCIF), with capital of over $200 million. This makes CPCIF one of the largest funds dedicated solely to ICT infrastructure in Africa.

Convergence Partners, an investment management firm focused on the African telecommunications, media and technology sector, reached its close with capital commitments from South Africa’s Public Investment Corporation (PIC), acting on behalf of the Government Employees Pension Fund (GEPF), and an Africa-focused fund of funds.

Other investors in the fund include International Finance Corporation, European Investment Bank, Dutch Development Bank, Development Bank of Southern Africa and UK’s CDC Group.

The CPCIF will deploy capital to portfolio investments across the African ICT infrastructure spectrum, improving access to technology as well as communication and broadband services. The Fund has a strong pipeline, notably in West Africa, where the company is opening a local Nigerian office.