Coronation Infrastructure Fund to List on NGX After ₦8.79B Raise
TLDR
- The Coronation Infrastructure Fund (CIF) is set to be listed on the Nigerian Exchange (NGX) following a record-setting capital raise of ₦8.79 billion
- Managed by Coronation Asset Management Ltd., a subsidiary of Coronation Group, the fund will list 87.9 million units at ₦100 per unit
- CIF focuses on channeling long-term capital into critical infrastructure projects across transport, power, and utilities
The Coronation Infrastructure Fund (CIF) is set to be listed on the Nigerian Exchange (NGX) following a record-setting capital raise of ₦8.79 billion, marking the largest-ever fundraising by a local infrastructure fund in Nigeria.
Managed by Coronation Asset Management Ltd., a subsidiary of Coronation Group, the fund will list 87.9 million units at ₦100 per unit, reflecting the total proceeds of its successful Series I offering.
The listing aims to boost visibility, liquidity, and access, allowing broader institutional and retail investor participation in Nigeria’s infrastructure sector. CIF focuses on channeling long-term capital into critical infrastructure projects across transport, power, and utilities.
Since inception, the fund has distributed over ₦1.7 billion in dividends across two income cycles, underlining its income-generating potential and appeal to yield-focused investors.
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Key Takeaways
The NGX listing of CIF signals a growing appetite for domestic infrastructure investment vehicles, as local investors seek long-term, stable returns while contributing to Nigeria’s development goals. The fund’s record raise and strong dividend record show increasing trust in professionally managed infrastructure assets. CIF’s public market debut enhances transparency and may pave the way for further fund issuances as Nigeria looks to close its multi-trillion-naira infrastructure financing gap. It also demonstrates rising demand for alternative investment options in an environment of inflationary pressure and market volatility. As the NGX pushes to diversify its product offerings, CIF’s listing could spur the development of a more robust infrastructure asset class on the exchange, attracting deeper institutional capital and potentially unlocking blended finance from multilateral and development finance institutions.
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