Stanbic IBTC Infrastructure Fund to Close on Friday
Following the success of the first tranche of Stanbic IBTC N100 billion Infrastructure Fund, the N15 billion Series II offer, which was released in early May, is set to close on Friday, according to a statement.
Stanbic IBTC Asset Management Limited, the Fund Manager and subsidiary of Stanbic IBTC Holdings PLC, has again called on interested investors to take advantage of the offer.
It said the Fund is designed to bridge the gap between the long-term funding needs of promoters of infrastructure projects and investors with long-term capital.
The Fund, which is structured as a closed-ended collective investment scheme, seeks to provide competitive returns above the benchmark Federal Government of Nigeria bond yield of comparable tenor as the outstanding tenor of the Series II from time to time.
In September 2021 Asset Manager successfully closed its Series I offer and raised capital from a diverse group of investors, including Pension Fund Administrators, Asset Management Companies, Insurance Companies, and High Net-worth Individuals.
The proceeds of the Series I offer were deployed towards gas distribution value chain infrastructure and healthcare infrastructure.
“We encourage institutional investors to continue participating in the Stanbic IBTC Infrastructure Fund issuances as we proceed with the efforts to bridge the existing infrastructure asset gap through careful project selection that delivers positive social and economic multiplier effects” Dolu Olugbenjo, Chief Investment Officer, Stanbic IBTC Infrastructure Fund, said.
He added that the fund aims to deliver competitive investment returns to investors within acceptable risk thresholds. READ: WSTC Hits Stanbic IBTC with Sell Rating Despite Positive Numbers
Dolu reiterated that the fund will be deployed to support infrastructure and infrastructure-related project opportunities in healthcare, transport, logistics, renewable energy, and power amongst others. Interested investors have been encouraged to go online and fill out the form and a representative will contact them within 72 hours. #Stanbic IBTC Infrastructure Fund to Close on Friday