Stanbic IBTC Seeks Investors for Infrastructure Fund Series II Offer
Stanbic IBTC Asset Management Limited, a subsidiary of Stanbic IBTC Holdings has announced it has opened the N15 billion Series II Offer under its Stanbic IBTC Infrastructure Fund N100 billion Shelf Programme scheduled to close on Friday, 10 June 2022 for subscriptions.
According to a statement, the Fund is designed to bridge the gap between the long-term funding needs of promoters of infrastructure projects and the needs of 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 10-year bond yield.
Its asset manager successfully closed its Series I offer in September 2021 and raised N6.745 billion across diverse investors, including Pension Fund Administrators, Asset Management Companies, Insurance Companies, and High Net-worth Individuals.
According to the company, the proceeds of the Series I offer were deployed towards the energy and healthcare sectors.
Speaking about the development, Dolu Olugbenjo, Chief Investment Officer, Stanbic IBTC Infrastructure Fund, 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.” READ: Stanbic IBTC Dollar Fund: A Hedge against Naira Depreciation
“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 added while aiming to deliver competitive investment returns to investors within acceptable risk thresholds”. #Stanbic IBTC Seeks Investors for Infrastructure Fund Series II Offer