Home Business FG selects 4 asset managers for $37 billion Infrastructure Fund

FG selects 4 asset managers for $37 billion Infrastructure Fund


The Federal Government has selected 4 asset managers to run the N15 trillion ($37 billion) fund for the Infrastructure Corporation of Nigeria Limited (Infra-Co) which is set up to drive investment in roads, railways and power projects in Nigeria.

The acting Director, Corporate Communications of CBN, Osita Nwanisobi, in a statement, said that Nigeria’s Vice President, Yemi Osinbajo, had approved the hiring of the fund managers for the company.

According to a report from Bloomberg, the selected asset managers include Netherlands-based Sanlam Infraworks; AIIM, a unit of South Africa’s Old Mutual Group; Lagos-based Chapel Hill Denham; and Tripple A, a consortium comprising AfricaPlus Partners and Arc Asset Management as well as Afrinvest West Africa, a Nigerian investment bank.

President Muhammadu Buhari had earlier this year approved the Federal Government’s seed capital of N1 trillion ($2.4 billion) for the take-off of the infrastructure company that would help close Nigeria’s huge infrastructure deficit. The fund managers are expected to raise the rest of the required funds.


Please enter your comment!
Please enter your name here