Infra Invest, a management company for investment funds specializing in infrastructure projects in Africa and a subsidiary of asset manager RMA Capital, has announced the acquisition of a 20 percent ownership position in Morocco-based Mass Céréales Al Maghreb, a subsidiary of the family-owned conglomerate Holmarcom Group. The transaction was structured through Infra Invest, the investment advisor of ARIF Fund, an EUR77 million pan-African investment fund. Mass Céréales operates two grain terminals under a 25-year concession in the ports of Casablanca and Jorf Lasar.