AVA Global Asset Managers Lists ₦200 Billion AVA Infrastructure Fund on Nigerian Exchange

AVA Global Asset Managers Limited, a leading asset management firm, has successfully listed the Series 1 issuance of its ₦200 billion AVA Infrastructure Fund on the Nigerian Exchange Group (NGX). The milestone was marked by a ceremonial closing gong-ringing event, celebrating the firm's commitment to addressing Nigeria’s infrastructure deficit through strategic investment.

During the event, Efe Shaire, Managing Director of AVA Global Asset Managers Limited, emphasized the company’s dedication to supporting Nigeria’s socio-economic development. She stated, "This listing is a significant milestone for our organisation and a testament to the AVA Capital Group’s belief in Nigeria’s infrastructure development. It underscores the impact that long-term private sector capital can have in driving productivity gains and sustainable economic growth."

The AVA Infrastructure Fund Series 1 issuance provides new opportunities for growth and collaboration, allowing AVA to tap into the substantial capital available within the Nigerian market. It offers investors access to a well-structured, transparent, and professionally managed investment vehicle focused on infrastructure project financing.

Addressing Nigeria's Infrastructure Gap

Recent reports, such as PwC’s 2024 Economic Outlook, highlight Nigeria's substantial infrastructure deficit. The country's current infrastructure spending of ₦1.32 trillion falls significantly short of the World Bank's recommended 70% infrastructure-to-GDP ratio, with Nigeria currently at 30%. The AVA Infrastructure Fund aims to bridge this gap by investing in critical sectors essential for economic growth.

About the AVA Infrastructure Fund

The AVA Infrastructure Fund (AVA IF) is a closed-end infrastructure fund registered with the Securities and Exchange Commission (SEC) and authorized in Nigeria as a Unit Trust Scheme under the Investment and Securities Act (ISA). The Fund focuses on addressing Nigeria's infrastructure deficit by providing institutional capital for suitable projects across key sectors, including power, telecommunications, gas distribution, transport, urban and social infrastructure, utilities, agribusiness, and supporting infrastructure.

The Fund’s objective is to spur socio-economic impact in Nigeria, contributing to the growth of the manufacturing sector and supporting the country’s diversification efforts while generating profits for investors.

Fund Performance and Investment Opportunities

Following the approval of the ₦200 billion issuance program by the SEC, the Fund’s Series 1 issuance was launched earlier this year, raising ₦4.075 billion at its close. Targeted at institutional investors, including pension funds, multilateral and international financing institutions, professional investors, and high-net-worth individuals, the Fund aims to provide stable and predictable long-term income by investing in de-risked infrastructure projects and related assets.

In addition to the target sectors, the Fund will also invest in senior-debt facilities, securitized debt instruments of infrastructure companies or Special Purpose Vehicles (SPVs), preference shares, convertibles, and mezzanine instruments, aiming to provide unitholders with competitive returns.

Positioning for Impactful Investment

The AVA Infrastructure Fund is poised to address Nigeria’s infrastructure challenges by leveraging its investment strategy to improve the nation’s infrastructure landscape. This initiative aligns with the Federal Government’s objectives to close the infrastructure gap and promote long-term economic development. The successful listing of the Fund's Series 1 issuance on the NGX marks a pivotal step toward achieving these goals.

About AVA Global Asset Managers Limited

AVA Global Asset Managers Limited is a premier asset management firm offering portfolio management, investment and financial advisory, and asset management services. It operates as the asset management arm of the AVA Capital Group and is registered with the Securities and Exchange Commission (SEC) as Fund/Portfolio Managers. The firm holds an A+ credit rating from Data Pro Limited and a BBB rating from Agusto and Co.

By focusing on sustainable and impactful investments, AVA Global Asset Managers aims to create lasting value for investors while contributing to Nigeria's economic growth and infrastructure development.