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Coronation Infrastructure Fund (CIF) has launched its Series II Offer, seeking to raise up to N20 billion to support the financing of critical infrastructure projects across Nigeria.
The offer comprises up to 186.9 million units priced at N107.00 per unit and is being issued under the Fund’s N200 billion Shelf Programme.
The development was disclosed in a statement signed by Aigbovbioise Aig-Imoukhuede, Managing Director and Chief Executive Officer of Coronation Asset Management Limited, on behalf of the Fund.
What they are saying
According to the Fund, the Series II issuance presents investors with an opportunity to participate in financing infrastructure assets considered critical to Nigeria’s long-term economic development.
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- “Coronation Infrastructure Fund (CIF or the Fund) is pleased to announce the launch of the Series II Offer of up to N20 billion under its N200 billion Shelf Programme, providing investors with an opportunity to participate in financing critical infrastructure assets that underpin Nigeria’s long-term economic growth,” the statement said.
The Fund currently manages assets exceeding N9.2 billion and expects the successful completion of the new capital raise to increase assets under management (AuM) to more than N30 billion.
- “With assets under management (AuM) of over N9.2 billion, the successful completion of the Series II Offer is expected to increase the Fund’s AuM to over N30 billion, significantly strengthening its capacity to finance a growing pipeline of eligible infrastructure projects.”
The Fund noted that the additional capital will enhance its ability to provide financing for creditworthy infrastructure projects across key sectors of the economy.
Get up to speed
The launch comes after the successful execution of transaction documents and the receipt of regulatory approval from the Securities and Exchange Commission (SEC).
A signing ceremony held at Coronation Plaza in Lagos brought together the transaction parties and marked the completion of key regulatory requirements ahead of the offer opening.
The Series II issuance builds on the Fund’s inaugural capital raise under its SEC-approved N200 billion Shelf Programme.
Launched in September 2023, the Series I issuance raised N8.79 billion from 33 investors across four investor categories. Pension Fund Administrators accounted for 42% of the total funds raised.
Since inception, the Fund has distributed N3.31 billion in income to unit holders, reflecting its investment strategy focused on infrastructure credit and long-term capital preservation.
More insights
Managed by Coronation Asset Management Limited, the Fund operates as a SEC-regulated closed-end infrastructure debt fund.
The proceeds from the Series II Offer will be deployed to provide long-term debt financing to infrastructure and infrastructure-related projects, companies and special purpose vehicles.
Target sectors include:
- Transportation and utilities
- Telecommunications
- Energy
- Real estate
- Social infrastructure
The Fund said its investment strategy is designed to support Nigeria’s infrastructure development needs while generating stable income and preserving capital for investors.
The naira-denominated fund is structured to provide investors with stable returns through exposure to infrastructure-backed assets while maintaining a focus on risk-adjusted performance.
What you should know
The launch comes shortly after the Fund released its financial results for the first half of 2026.
Coronation Infrastructure Fund reported an operating profit of N791.5 million during the period, supported by total income of N889.78 million.
The performance was largely driven by interest income earned from infrastructure loans and investment placements, underscoring the Fund’s growing role in financing long-term infrastructure projects in Nigeria.
