INFRASTRUCTURE

FUND

Join the waitlist for the Series 2 of our Infrastructure Fund.

Please fill the form below or contact our team at Cif@coronationam.com

ABOUT US

The Coronation Infrastructure Fund (the “Fund” or “CIF”) is a close-ended debt fund registered with the Securities and Exchange Commission (“SEC”) as a N200 billion Shelf Programme under the guidelines for Infrastructure Funds. 

The Fund is sponsored by Coronation Asset Management Limited (“Coronation AM” or the “Fund Manager”) to make long-term debt investments within specific sectors in Nigeria and sub-Saharan Africa. The Fund is dedicated to delivering sustainable returns through strategic investments in transformative projects. 

The Fund invests the net proceeds from each offer in loans, securities, and securitized debt instruments of infrastructure companies or projects or special purpose vehicles which are created to facilitate or promote investment in infrastructure and shall seek to generate steady, predictable income through regular interest payments on its investments while preserving the value of its investment principal. The beneficial interests in the Net Asset Value and net income of the Fund are divided into transferable units of the Fund (the “Units”) 

Coronation AM, the Sponsor, is an asset management company incorporated on October 2, 2015, under the laws of the Federal Republic of Nigeria. 

Why Choose Coronation Infrastructure Fund

The Fund selectively pursues investment in Infrastructure projects with resilient cashflows underpinned by strong contracts and business fundamentals.

The Fund highlights are as follows:
A-Rated Investment Manager: One of the largest investment managers in Nigeria with A ratings from Agusto & GCR. All existing funds are also A-rated.
Governance: Coronation AM’s strong corporate governance, deep Board experience and Independent Investment Committee members with diverse experience in infrastructure financing both at the Board and Management levels.
Excellent Technical Skills and Strong Deal team: Fifty-plus years of cumulative deal team experience in infrastructure investment, and project finance. Strong execution and technical capabilities in deal structuring, financial modelling valuation and investor services.
Thematic Approach to Deal Sourcing and Origination: Deep sector knowledge and expertise to scan and build deal pipelines across sectors of interest.
Diversified Risks and Opportunities: Investments spread across different sectors to diversify return and risk. Portfolio and sectorial limitations to mitigate concentration risk.
Multiple Exit options for Investors: Clear tenor and terminal date for investors. Series will be listed on the dual exchanges to aid liquidity. The Fund Manager can also facilitate the transfer of units between interested buyers and sellers.

CORONATION INFRASTRUCTURE FUND

Investment Focus

Our investment focus is to provide long-term funding for commercially viable infrastructure projects and businesses in Sub-Saharan African countries starting with Nigeria. The Fund strategically invests in specified sectors such as Telecoms, Social Infrastructure, Utilities, Real Estate, Transport, and Energy to capitalize on emerging trends and long-term growth.

Investment Strategy

Our Objective
1.  The Fund will invest in projects at both the brownfield (expansion) and greenfield stages.
2.  The Fund aims to deliver above-hurdle rate investment returns to investors through investments in projects with highly predictable, resilient cash flows while expanding the Fund’s developmental impact.
3.  The Fund will invest in opportunities that contribute to job creation, climate change mitigation, and gender balance. The Fund will strictly adhere to the IFC’s ESG Performance Standards in its investment process and evaluation.
4.  Investment tenor: The Fund will be able to invest for as long as 10 years (in some cases, longer) depending on the business fundamentals and with the investment committee’s approval.
5.  Income generated by the fund will be distributed periodically to unitholders.
6.  The Fund will primarily make debt investments through senior debt, subordinated, and mezzanine financing. The Fund will also consider quasi-equity investments in certain cases to meet diverse funding requirements, provided such investments strengthen the Fund’s leverage in the investee company.

Structure and Governance

The Fund operates under the regulatory framework of the Investment and Securities Act 2007 and adheres to the rules for Collective Investment Schemes and Infrastructure Funds outlined by the SEC.

CIF maintains a robust governance structure which includes its investment committee and an Advisory Board, Trustee and Custodian.

Investment Committee

The investment Committee for CIF is composed of seasoned investment professionals with extensive expertise in infrastructure investment, private equity, and financing. Collectively, the committee members possess over 100 years of relevant experience. They review investment memoranda from the Deal Execution team and make investment decisions on behalf of the Fund.

See members of the investment committee below:

Advisory Board
This comprises members nominated by investors in the Fund.
Trustee
The ownership of all the Fund’s assets shall be vested in the Trustee.
Custodian
Take possession of and maintain safe custody of all investment instruments of the Fund.

Professional Parties to the Fund

Fund Manager Coronation Asset Management Limited
Issuing House Coronation Merchant Bank Limited
Trustees to the Fund Stanbic IBTC Trustees Limited
Custodian to the Fund Access Bank Plc
Registrar to the Fund Coronation Registrars Limited
Solicitors to the Fund Templars Law

 

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