The Abraaj Group, a leading emerging markets private equity investor, is acquiring Themis Energy for an undisclosed sum in order to extend its investment capabilities in the energy sector in Africa, Southeast Asia and Latin America. The deal establishes a dedicated project development arm for Abraaj which will have full access to the group’s existing capabilities to originate, develop and manage energy projects from conceptual to operational stages.
Themis, which was launched in 2013 by Marc Mandaba, a former private infrastructure investment officer at the African Development Bank, already has projects with a capacity of more than 1,300 MW under development. Mandaba joins Abraaj as Managing Director and Head of Themis, along with a team of twelve project finance and development professionals who will lead or partner with other project developers to turn concepts into bankable projects and mobilize the necessary debt and equity to fund the deals. Themis’s Chairperson, Tas Anvaripour, will join Abraaj as a Partner in the energy infrastructure team.
Commenting on the business launch, Sev Vettivetpillai, an Abraaj Partner and Head of the group’s Thematic Fund business said “Abraaj’s ambition is to effectively manage capital across a number of energy sub-sectors and through all stages of the energy asset life cycle, from early developments through greenfield to operations. We believe that we can successfully achieve this objective by expanding our scope of activities to include a dedicated focus on project development.”
To date, Abraaj has already made approximately $1 billion in investments in ten energy deals in a number of growth markets.