The funds managed by Blackstone and Black Rhino have in a press statement issues on June 11, 2015, announced the appointment of Sanusi Lamido Sanusi, Emir of Kano and Former Governor of the Central Bank of Nigerian, as Chairman of the Board of Directors.
The statement explaining the funds’ background, indicated that Black Rhino was formed in January 2012 “to develop and to invest in transformational infrastructure projects” in Sub-Saharan Africa’s power generation and fuel transportation sectors.
“One can scarcely imagine a stronger addition to the Black Rhino Board. The Emir has unparalleled insights into Africa’s regional and local socio-economic development needs and the role that power and infrastructure development can play,” said Brian Herlihy, Black Rhino’s Founder and CEO.
“We know as Chairman of Black Rhino, the Emir will provide business as well as moral guidance in all our endeavours across Africa. It is an honour and a privilege to announce His Highness, the Emir of Kano as the Chairman of Black Rhino.”
“We are pleased that Emir Sanusi has agreed to lend Black Rhino his considerable expertise and wisdom as Chairman,” said Sean Klimczak, a Senior Managing Director at Blackstone who oversees the firm’s global private equity investments in power generation and natural resources. “We look forward to working closely together as we develop energy solutions for Sub-Saharan Africa.”
“Emir Sanusi has a comprehensive mastery of the interdependence of Africa with the global economy,” said Mimi Alemayehou, Chair of Blackstone African Infrastructure LP and Managing Director at Black Rhino. “He has the courage and integrity necessary to give us the full, candid and impartial counsel that a long-term investor in Africa needs. We are gratified and, indeed, privileged to have a partner of such immense stature alongside us as we chart our course.”
On his part, Emir Sanusi commented: “I am honoured to join the Board of Black Rhino, a company that is looking to develop infrastructure projects in places where there is the most need to transform communities. We live in a time of intense competition for capital and I do hope that by joining the Board I can play some part in bringing some of that capital nearer to home.”
Sanusi was named Emir of Kano in June 2014, the second-highest Muslim authority in Nigeria. Prior to his appointment, Sanusi had a distinguished 25-year career in banking. He began his career in 1985 at ICON Merchant Bankers, a subsidiary of Morgan Guaranty Trust and Baring Brothers, and later ran the credit and risk management division at the United Bank for Africa. In 2005, Sanusi moved to First Bank, where he was named managing director in 2009.
In June 2009, in the midst of the global financial crisis, Sanusi was appointed Governor of the Central Bank of Nigeria.
Black Rhino was founded to address the critical need for infrastructure and energy development across the African continent. The fund seeks to capitalise on the major opportunity to invest in projects in the energy security sector, including power generation, transmission, fuel storage and pipelines. Black Rhino has developed a comprehensive understanding of the African continent, including the necessity to establish strong partnerships with leading African entities that complement its expertise.
Black Rhino’s management team has collectively been involved in the development of over US$35 billion of infrastructure, communication and power generation projects across the globe and has over one hundred thirty-five years of combined African experience. The team has been responsible for numerous projects from the concept stage through the full financing, construction, operation and ultimately the exit stage and prides itself on setting standards for developing transformational projects that aim for the greatest level of local population participation and adherence to strict environmental and safety standards.