ARM-Harith Infrastructure Investment Fund, a joint venture between Nigeria-based asset manager Asset & Resource Management Company (ARM) and pan-African infrastructure fund manager Harith General Partners, has held a first close with US$91 million in capital commitments. The fund, which will focus on the transportation, energy and utilities sectors in West Africa, has a target of US$250 million. Investors in the first close included ARM, Harith, African Development Bank and the local pension fund administrators of Nigerian Breweries, Chevron and Total E&P.