First Asset Management Launches N100 Billion Infrastructure Fund to Boost Nigeria's Development

Strategic Insights -

First Asset Management, a subsidiary of First HoldCo Plc, has taken a significant step in bridging Nigeria's infrastructure financing gap with the launch of a N100 billion Infrastructure Fund. This move is aimed at driving sustainable development across key sectors such as renewable energy, power, recycling, waste management, and water resource development. The investment firm has opened the N20 billion Series 1 Offer, targeting long-term projects that will provide sustainable capital for large-scale infrastructure and alternative asset opportunities in Nigeria's capital markets. Managing Director of First Asset Management, Mr. Ike Onyia, emphasized the fund's strategic shift in infrastructure financing by enabling private sector participation in critical development areas.

Key Takeaways:

  • The FBN Infrastructure Fund has a total size of N100 billion and is aimed at bridging Nigeria's infrastructure financing gap.
  • The fund is structured to provide sustainable capital for large-scale infrastructure and offer investors alternative asset opportunities in Nigeria's capital markets.
  • The Series 1 issuance has a 10-year tenor and requires a minimum investment of N10 million.
  • The fund is expected to finance projects that contribute to Nigeria's development priorities by creating employment, improving the quality of life, and addressing pollution through sustainable practices.
  • The fund adheres to ESG (Environmental, Social, and Governance) principles, aiming to support job creation, enhance social welfare, and improve environmental sustainability.
  • The FBN Infrastructure Fund targets long-term projects in renewable energy, power, recycling, waste management, and water resource development.
  • The fund's launch aims to reinforce First Asset Management's role as a key player in Nigeria's financial ecosystem, promoting long-term investment, investor confidence, and economic growth.

Statistics:

  • The FBN Infrastructure Fund has a total size of N100 billion.
  • The Series 1 issuance has a size of N20 billion with a 10-year tenor.
  • The fund requires a minimum investment of N10 million.
  • The fund is expected to finance projects in various sectors, including renewable energy, power, recycling, waste management, and water resource development.

Sources:

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