Coronation Asset Management Ltd is set to list its Coronation Infrastructure Fund (CIF) on the Nigerian Exchange (NGX) in a move to broaden access to infrastructure-focused investments for a wider pool of institutional and retail investors.
This move comes on the heels of a record-setting capital raise of N8.79 billion in its maiden Series I offer, which is Nigeria’s largest capital raise for a debut infrastructure fund.
The proceeds will be reflected in the listing of 87.9 million units at N100 per unit on the NGX, the company said in a statement.
Aigbovoise Aig-Imokhuede, the CEO of Coronation Asset Management, said the CIF is more than a strategic investment tool, emphasising that it is a nation-building mechanism.
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“This listing on the NGX creates the access and liquidity required to enable Nigerian investors to participate in the structural transformations of the economy,” Aig-Imokhuede, who doubles as the chairman of Nigeria’s biggest bank by assets, Access Holdings, said.
Launched earlier this year, CIF channels capital into critical infrastructure sectors such as transportation, utilities, energy, telecommunications, real estate, and social infrastructure.
Mayowa Ikotun, head of Coronation Asset Management, argued that infrastructure is the bedrock of inclusive economic growth, without which an economy remains stuck in a circle.
“With CIF, we are deploying capital with intention—targeting high-impact projects that deliver long-term returns while solving real developmental challenges,” Ikotun said.
The fund has already distributed over N1.7 billion in dividends across two income cycles, signalling early traction in an asset class that has historically seen limited retail participation.
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Analysts say the listing will likely boost market visibility for infrastructure as an investable category and aligns with broader efforts to deepen Nigeria’s capital markets through alternative investment products.
The fund was recently recognised by the Gazet International Awards as Nigeria’s Best Performing Maiden Infrastructure Fund.
The listing comes as policymakers and financial institutions seek to mobilise private capital to close Nigeria’s infrastructure gap, which is estimated by the African Development Bank at about $2.3 trillion.
By providing liquidity, transparency, and regulated access to infrastructure investments, market participants hope funds like CIF will become a viable complement to government-led financing models.
