SEC Endorses AVA Global’s N200bn Infrastructure Fund to Enhance Nigeria’s Infrastructure

The Securities and Exchange Commission (SEC) has granted approval to AVA Global Asset Managers Limited for its N200 billion Infrastructure Fund aimed at bolstering Nigeria’s infrastructure landscape.

The fund initiated on January 29, 2024 with a closing date set for March 6, 2024, aims to address the nation’s infrastructure deficit by directing institutional capital towards strategic projects.

AVA Global’s Managing Director, Mr. Efe Shaire, emphasized the fund’s strategic allocation of private credit towards impactful projects, focusing on sectors like power, telecommunications, agribusiness, and gas distribution.

The fund seeks to provide stable income streams to unit holders through debt financing for critical infrastructure ventures with enduring assets and stable cash flows.

Projected to yield three to five percent above the Federal Government of Nigeria bond yield, the fund offers a promising avenue for investors to contribute to Nigeria’s development while earning competitive returns.

Structured as a closed-end, naira-denominated unit trust scheme, it represents a concerted effort to bridge infrastructure gaps and stimulate economic growth.

Partnerships with stakeholders including STL Trustees, Olaniwun Ajayi LP, United Bank for Africa, Cordos Registrars, Ernst & Young, and AVA Capital Partners underscore the fund’s robust framework and commitment to transparent, efficient operations.

The SEC’s endorsement signals a pivotal step towards enhancing Nigeria’s infrastructure ecosystem and fostering sustainable development.