South Africa-based Lereko Metier Sustainable Capital Fund, managed by black-owned investment company Lereko and private equity fund management business Metier, has reached a final close with ZAR690 million (approximately US$67 million) in capital commitments, exceeding initial targets. The fund received commitments from retirement fund Transnet Retirement Fund and development finance institution International Finance Corporation, as well as follow-on commitments from first close anchors German development finance institution DEG, Dutch development bank FMO and Africa-focused investment manager Public Investment Corporation. Lereko Metier Sustainable Capital Fund will make investments in the renewable energy, energy efficiency, water and waste management sectors.