Stanbic IBTC Asset Management, a subsidiary of Stanbic IBTC Holdings PLC, has launched a N100 billion infrastructure fund.
It is designed for institutional investors such as pension fund administrators, insurance companies, asset managers and high-net-worth individuals.
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The Stanbic IBTC Infrastructure Fund (SIIF) is registered with the Securities and Exchange Commission as a Collective Investment Scheme and provides an opportunity for qualified investors to invest in infrastructure projects such as transport and logistics, power and energy infrastructure, telecommunications, healthcare and water treatment, among others, it said in a statement.
Chief Executive, Stanbic IBTC Asset Management, Oladele Sotubo, said, “The N100 billion Infrastructure Fund will provide alternative investment outlets for investors seeking long term sustainable investment opportunities and returns, and will be issued in tranches to finance long-term projects.”
He also noted that the amount targeted to be raised under the first tranche is N20bn with a term of up to 12 years, and the proceeds would be invested in debt instruments of infrastructure or infrastructure-related projects, companies, and special purpose vehicles.
He said the firm remains committed to contributing to efforts aimed at improving various sectors of the Nigerian economy and continues to seek innovative and creative ways of financing critical infrastructural projects with support from the investment ecosystem.