AVA Global Asset Managers Limited, a leading asset management firm, celebrated the successful listing of the Series 1 issuance of its ₦200 billion AVA Infrastructure Fund on the Nigeria Exchange Group with the ceremonial closing gong-ringing event. This listing marks a pivotal moment for AVA Global Asset Managers as it seeks to address Nigeria’s significant infrastructure deficit through strategic and impactful investment.
Speaking at the event, Efe Shaire, Managing Director of AVA Global Asset Managers Limited, expressed the company’s commitment to supporting Nigeria’s socio-economic development. “This listing is a significant milestone for our organisation as well as a testament to the AVA Capital Group’s collective belief in the promise of Nigeria’s infrastructure development and the impact long-term private sector capital can have in driving productivity gains and sustainable economic growth.”
This AVA Infrastructure Fund Series 1 Issuance listed on NGX opens up new opportunities for collaboration and growth and allows us to tap into the deep pool of capital available within the Nigerian market while providing investors with access to a well-structured, transparent, and professionally managed investment vehicle focused on infrastructure project financing.
Recent reports, including PwC’s 2024 Economic Outlook, highlight Nigeria’s infrastructure deficit, with the allocated spending of ₦1.32 trillion falling short of the World Bank’s 70% infrastructure-to-GDP recommendation. Nigeria currently stands at 30%. The AVA Infrastructure Fund is designed to bridge that gap by investing in critical sectors essential for economic growth.”
About the AVA Infrastructure Fund
The AVA Infrastructure Fund (“AVA IF” or the “Fund”) is an infrastructure fund registered with the Securities and Exchange Commission (the “SEC”). The Fund is a closed-end fund authorized in Nigeria as a Unit Trust Scheme under the Investment and Securities Act (ISA). The Fund seeks to address the infrastructure deficit in Nigeria via the provision of institutional capital into suitable projects across Nigeria. The AVA Infrastructural Fund seeks to invest across various key sectors including the power, telecommunication, gas distribution, storage and processing, transport, urban and social infrastructure, utilities, agribusiness, and supporting infrastructure.
The overall objective of the Fund is to spur socio-economic impact in Nigeria. The AVA Infrastructure Fund is poised to contribute to the growth of Nigeria’s manufacturing sector, which will work together to achieve Nigeria’s diversification objectives while making profits for all investors.
Following the approval of the ₦200 billion issuance Programme by the SEC, the Fund earlier in the year launched its Series 1 issuance and successfully raised ₦4,075 billion at its close.
The Fund is targeted at institutional investors such as pension funds, multilateral and international financing institutions, professional investors, and high-networth individuals seeking exposure to infrastructure assets capable of generating stable and predictable long-term income.
The Fund will achieve its objectives of providing unitholders with competitive returns on their investment by investing in de-risked infrastructure or infrastructure-related projects in Nigeria. Aside from investing in the target sectors mentioned above, the Fund will also in invest in senior-debt facilities, securitized debt instruments of infrastructure companies or SPVs aimed at facilitating the financing of infrastructure projects, preference shares, convertibles, and mezzanine instruments.
The AVA Infrastructure Fund is poised to take advantage of this inherent gap in Nigeria’s Infrastructure, which will help improve the infrastructure deficit in Nigeria considering the current infrastructure dearth in the country and the dire need to improve the lives of the citizenry.
The Programme’s first series issuance, which has been successfully listed on the Nigerian Exchange Group (NGX), marks a pivotal step in addressing the nation’s critical infrastructure needs. By focusing on sustainable and impactful investments, AVA Global Asset Managers through the AVA IF aims to create lasting value for investors while contributing to the nation’s economic growth. This fund aligns with the Federal Government’s objectives of closing the infrastructure gap and driving long-term economic development. The N200 billion Programme underscores AVA’s commitment to playing a central role in the transformation of Nigeria’s infrastructure landscape.
About AVA Global Asset Managers Limited
AVA Global Asset Managers Limited is a leading asset management firm offering innovative portfolio management, investment and financial advisory, and asset management services. The firm is the asset management firm within the AVA Capital Group registered and licensed by the Securities and Exchange Commission (“SEC”) as Fund/Portfolio Managers. AVA Global Asset Managers Limited has an A+ credit rating from Data Pro Limited and a BBB rating from Agusto and Co respectively from the 2 credit rating agencies.