Highlights and other developments
The year 2025 was both positive and challenging for AEF. The Fund continued to operate in difficult markets, consistent with its mandate to provide catalytic, risk‑tolerant capital. Read more about Highlights and other developments .
Exits and Sales
The Fund completed the exit of its investment in Madagascar Hydro Holdco Limited during the year. A deferred consideration remains outstanding at year-end and is expected to be received in 2026. Read more about Exits and Sales .