Stanbic IBTC Asset Management Limited has declared a N15 billion Series II Offer as part of its N100 billion Shelf Programme for the Stanbic IBTC Infrastructure Fund.
The offer, which is open and expected to close on June 10, 2022, is meant to bridge the gap between the long-term funding needs of infrastructure project promoters and the needs of long-term capital investors.
The Fund, which is structured as a closed-ended collective investment vehicle, strives to generate competitive returns above the benchmark 10-year bond yield of the Federal Government of Nigeria (FGN).
In September 2021, the fund manager successfully closed its Series I offer, raising N6.745 billion from a diverse group of investors that included Pension Fund Administrators, Asset Management Companies, Insurance Companies, and High Net-worth Individuals (HNIs).
The proceeds of the Series I offer were deployed towards the energy and healthcare sectors.
Speaking on the development, chief investment officer, Stanbic IBTC Infrastructure Fund, Dolu Olugbenjo, said: “subsequent to the deployment of Series I proceeds, we are pleased to present the Offer to investors to support a robust pipeline of investment opportunities currently under our review.
“These include infrastructure and infrastructure-related project opportunities in healthcare, transport, logistics, renewable power and energy, amongst others.”
“We encourage institutional investors to continue participating in the Stanbic IBTC Infrastructure Fund by partnering with us to bridge the existing infrastructure asset gap that could deliver positive social and economic multiplier effects,” he said.