A group of foreign investors, led by Pecora Capital LLC of United States, has launched a $2 billion Nigeria Infrastructure Fund for investment in key projects in the country.
Known as the Nigerian Infrastructure Fund SP, the Fund has a seven-year investment horizon with up to two additional years for asset divestment.
The Fund is being managed by NiFund, an investment management company that targets investment opportunities in high growth sectors in Nigeria.
NiFund will solicit commitments from both qualified private investors and development finance institutions, while Pecora Capital Limited will manage the investment activities of the Fund.
Commenting on the launch of the Fund at the Nigerian British Chamber of Commerce, NBCC, Mission to the United Kingdom, Aaron Smith, Managing Director of Pecora Capital said: “Investment in the infrastructure sector is vital for the socioeconomic development of Nigeria and we will aim to attract foreign investors to fund critical national infrastructure projects with an overarching aim to deliver a strong return on investments.”