Board of directors

Executive director & consultant

Richard Gordon

B.Sc Eng, Pr Eng, MBA

Richard was responsible for the leadership of the ACED team from 2013 to the end of 2024. He is now an Executive Director of ACED. Prior to joining in 2013, he was CEO of Umoya Energy (developer of the R1.5bn Hopefield Wind Farm (67MW)) and of REISA, owner of the Kathu Solar PV Project (75MW). Richard has been involved in all ACED’s Round 3 and Round 4 Projects (over 500MW of Wind and +-400MW of Solar PV). His recent particular focus has been on EPC & OM procurement & contracts and getting the Middle Lusuftu Hydro Power project to Financial Close in December 2024.

Richard has over 35 years post-graduate (BSc Eng, Pr Eng, MBA) experience in the planning, design and delivery of large scale multi-disciplinary infrastructure projects (dams, roads, structures), including large-scale power generation projects (including 1333MW pumped storage). He has significant experience in project delivery under a range of financing methods, including limited recourse project finance (DBFO, BOOT, BOT, etc.) within concession structures such as those used by IPPs. Richard has worked as consultant, contractor and developer, and in most of the SADC countries.

executive director

PAUL BOYNTOn 

B.Sc Hons (Operations Research), MBA

Paul has been involved in investments, including managing listed equities, balanced funds and alternative assets, for over 30 years. He retired as CEO of Old Mutual Alternative Investments (OMAI) in 2021 (having joined Old Mutual in 1995).

He serves on various investment committees and had/has several directorships (including AIIM and Old Mutual Alternative Investments (OMAI).

Paul holds a BSc (Hons) degree in Operations Research and an MBA from the University of Cape Town.

executive director

SEAN FRIEND 

CFA® Charterholder, B.Sc, M.Sc

Sean is the CIO for SADC investments and Co-Portfolio Manager of the IDEAS Fund. He joined OMAI in 2006 and became part of AIIM in 2015. Since 2008 when he became responsible for the IDEAS Fund’s overall management, he has overseen the Fund’s significant investment in South African infrastructure.

Sean has and continues to represent the IDEAS Fund on key strategic boards but his primary focus remains on origination, transaction execution, investment approvals and investor relations.

Prior to his role as Co-Portfolio Manager of the IDEAS Fund, Sean was the portfolio manager for the IDEAS Fund Property portfolio. 

non-executive director

VUYO NTOI 

B.Com (Hons), M.Sc, MBA, AMP

Vuyo is Managing Director and co-Head at AIIM and has more than two decades of investment experience, having been involved in private infrastructure investing in Africa since 2003.  Prior to being an AIIM Director, he was the Co-Portfolio Manager of the IDEAS Fund. Vuyo joined AIIM in 2003, and holds several directorships, including positions on the boards of some of AIIM’s portfolio companies.

He holds a B.Com Honours degree from the University of Cape Town, an M.Sc from the University of Oxford and MBA from IESE Business School. He has also completed Harvard Business School’s Advanced Management Program and is part of the Aspen Global Leadership Network.