GuarantCo is fully integrated into the Private Infrastructure Development Group

  • Date written
  • May, 2026

GuarantCo has been fully integrated into the Private Infrastructure Development Group (PIDG) following the acquisition of GuarantCo Management Company from Cardano Development, which has managed the fund since 2016. This integration aims to help PIDG remain competitive by leveraging synergies to maximise market opportunities and attract new sources of capital.

GuarantCo is fully integrated into the Private Infrastructure Development Group

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. 

PIDG offers a range of solutions to attract and catalyse private investment into critical infrastructure projects over their lifecycle – from project development and technical assistance to debt and credit solutions. 

The business transformation will be carefully managed over the coming months to minimise the impact for PIDG’s valued clients and key contacts. Relevant updates will be provided in a timely manner.   

Philippe Valahu, CEO, PIDG, said:

“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 ten years.

“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.” 

Joost Zuidberg, CEO, Cardano Development, said:

“As we hand over our mandate for GuarantCo, I want to express how immensely proud we are at Cardano Development of the remarkable transformation the institution has undergone in a decade. When we assumed management, GuarantCo had a small team and a USD 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.”

NOTES TO EDITORS

About GuarantCo

GuarantCo mobilises private sector local currency investment for infrastructure projects and supports the development of financial markets in lower income countries across Africa and Asia. GuarantCo is part of the Private Infrastructure Development Group (PIDG) and is funded by the governments of the United Kingdom, Switzerland, Australia and Sweden, through the PIDG Trust, the Netherlands, through FMO and the PIDG Trust, and Global Affairs Canada plus France through a stand-by facility. GuarantCo is rated AA- by Fitch and A1 by Moody’s. Since 2005, GuarantCo has enabled USD 7.1 billion of total investment and USD 6.8 billion of private sector investment, giving 44.8 million people improved access to infrastructure and creating around 248,000 jobs. www.guarantco.com

About PIDG

The Private Infrastructure Development Group (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. PIDG investments promote socio-economic development within a just transition to net zero emissions, combat poverty and contribute to the Sustainable Development Goals (SDGs). PIDG delivers its ambition in line with its values of pioneering, partnership, safety, inclusivity, and urgency.

 

PIDG offers technical assistance for upstream, early-stage activities and concessional capital; invests in early-stage project development and project and corporate equity through its project development solution, InfraCo; its debt solution EAAIF (the Emerging Africa & Asia Infrastructure Fund) is one of the first and more successful blended debt funds in low-income markets; and its guarantees solution, GuarantCo, provides credit enhancement and local currency solutions to de-risk projects. PIDG also supports a growing portfolio of local credit enhancement facilities, which unlock domestic institutional capital for infrastructure financing.

 

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. PIDG is funded by the governments of the United Kingdom, the Netherlands, Switzerland, Australia and Sweden, and Global Affairs Canada. www.pidg.org

About Cardano Development

Cardano Development (CD), established in 2007, incubates new companies, and creates and manages fund managers. Through careful risk-management analysis in data poor settings, CD identifies scalable solutions that can help to make frontier financial markets more inclusive, investible, and sustainable to unlock lasting economic value. CD creates scalable solutions for currency, credit, and liquidity risks in these markets. CD supports scale-up ventures (TCX, Frontclear, BIX Capital, ILX Fund, AGRI3 Fund), and a number of new start-ups, with ongoing management support services and corporate governance oversight. www.cardanodevelopment.com