The federal government is shopping for an asset manager for its newly set up Infrastructure Company of Nigeria Ltd. (Infra-Co), to raise about $36.7 billion for projects in Nigeria.
Reports by Bloomberg said the Central Bank of Nigeria (CBN) and its funding partners, Africa Finance Corporation (AFC) and state-owned Nigeria Sovereign Investment Authority, are seeking proposals from companies to independently manage the infrastructure company’s fund-raising plan.
The fund manager would be responsible for coordinating the total equity capital and associated debt raise required by the company with the asset managers seeking the role expected to have been active in infrastructure financing.
Some firms such as PricewaterhouseCoopers, Boston Consulting Group, McKinsey and KPMG have expressed interest in getting the role of transaction advisers on the deal with Ukiri Lijadu and Co. and Kenna Partners appointed legal advisers.
President Muhammadu Buhari recently approved the government’s N1trillion initial seed capital for the Infrastructure company, which will be set up under a Public-Private Partnership.
