United Capital Plc has announced the launch of United Capital Infrastructure Fund (UCIF), a Naira-denominated fund put in place to offer long-term financial backing to projects aimed at delivering critical infrastructure.
The greater goal of this fund is to bridge the infrastructure gaps in Nigeria and sub-Saharan Africa. UCIF has gone through the necessary filing and registration at the Securities and Exchange Commission. It was registered as a close-ended fund, with a N150Bilion issuance program.
The Fund is structured to only provide financing to credible infrastructure assets, spread across various sectors, including power and renewable energy, transportation, agribusiness, and industrial infrastructure, healthcare, technology, mass housing, urban and social infrastructure.
United Capital Plc is acting as the sponsor of the fund, while United Capital Asset Management Limited (“UCAML”) is managing it. The Fund has kept Africa Finance Corporation on as the independent Financial Advisor.
Mr. Peter Ashade, the Group CEO of United Capital Plc indicated that “the journey to launch the Fund has taken almost two years, during which period extensive preparatory studies and appraisals were carried out to establish the business case for the Fund.”
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