Sanlam Alternative Investments (SAI) has received a prestigious International Financial Law Review (IFLR) award for its role in structuring a landmark climate finance transaction backed by a €205m European Commission guarantee.
Source: Pexels.
The deal underlines South Africa's growing influence in global blended finance and sets a new benchmark for innovation in emerging markets.
Named “In-House Team of the Year for Corporates”, SAI collaborated with legal partner Bowmans on the award-winning structure, which was also shortlisted for “Deal of the Year”.
At its core is an innovative bridge loan supporting Climate Fund Managers' Climate Investor Two platform. Backed by EU guarantees and refinanced through long-term climate bonds, the structure opens up scalable access to climate-aligned infrastructure.
Legal innovation recognized on global stage
IFLR recognizes the complexity of the legal structure of the nomination deal, which has successfully blended public sector guarantees with private capital markets in a way that enhances investor protection while unlocking capital for climate adaptation.
The transaction demonstrates how South African institutions can lead in designing globally relevant climate-finance solutions – particularly for emerging markets that face the most severe climate risks. The deal also signals increased influence in shaping climate-aligned capital structures that are both commercially viable and developmentally impactful.
Structured for scale and impact
Rob McGannett, Chief Executive Officer of Sanlam Alternative Investments, said, “We are incredibly proud of the team behind this historic transaction. This was no ordinary achievement, and is worthy of the recognition given by our industry peers and IFRL.
“The bridge loan facility, provided by Sanlam Alternative Investments and backed by a European Commission guarantee, will subsequently be refinanced through a climate bond, opening up institutional fixed income markets for CI2’s diverse portfolio of adaptation-focused infrastructure projects – which are at the heart of our purpose as a business.”
“This mechanism allows investors to access the fund's underlying asset base while maintaining the hallmarks of Sanlam's infrastructure platform: strong governance and disciplined risk management,” McGannett said.
Mark Moorhouse, Executive Head: Infrastructure Finance at Sanlam Alternative Investments, commented, “This transaction reflects our strong belief that business success and climate resilience can and should go hand in hand. By supporting CI2, we are enabling infrastructure that directly improves lives and addresses the climate challenges facing emerging markets.”
African influence at large
Since its first closing in 2021, CI2 has committed approximately $339m to 25 projects in emerging markets.
Projects include:
- Waste-to-Energy Platform in Sierra Leone and South Africa
- Water supply and distribution in Vietnam and the Philippines
- Desalination Initiative in Thailand and Kenya
- World's largest debt-for-nature swap in Ecuador
CI2 is now recognized as the largest climate-adaptation infrastructure fund dedicated to emerging markets spanning Africa, Asia and Latin America.
The bridge facility lays the foundation for further institutional partnerships in climate-resilient infrastructure, strengthening South Africa's leadership in adaptation-aligned finance.