Nigerian Sovereign Wealth Gets $250 Million from ECA

Nigeria’s National Economic Council (NEC) has approved a fresh capital injection of US$ 250 million into the country’s sovereign wealth fund – Nigeria Sovereign Investment Authority (NSIA). The money is coming from Nigeria’s Excess Crude Account. At July 20, 2016, the excess crude account had US$ 3.93 billion in assets. In total, Nigerian President Muhammadu […]

Nigeria Sovereign Investment Authority

NSIA to Form Company with GuarantCo for Infrastructure Bonds

The Nigerian government, through the Nigerian Sovereign Investment Authority (NSIA), is taking steps to create a platform where investors can invest in Nigerian infrastructure bonds, as the country faces issues luring large-capital foreign investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Ithmar Capital and NSIA Back Trans-Africa Pipeline

The Trans-African Pipeline project, an endeavor that will involve joint developing a new regional gas pipeline connecting Nigeria to Morocco, is currently slowly moving forward. The pipeline development hopes to stimulate large-scale economic growth across west Africa. In addition, the pipeline should be able to boost energy exports to continental Europe, linking Nigerian gas to […]

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SWFI First Read, October 31, 2016

Happy Halloween! KIC and other Korean Institutional Investors Chat About Overseas Alternative Opportunities The Korea Investment Corporation (KIC) was part of a meeting with other Korean public institutional investors, including Korea Post, to discuss oversees private market opportunities. Ares Management and Cerberus Capital Management were part of the discussion. CalSTRS Eyes Selling Large Real Estate […]

African SWF Partners with Manager for Properties and Farmland

Nigeria’s public finances have experienced a brutal beating as a collapse in oil revenues takes a toll on the government. The Nigerian government is now keen on attracting more long-term international capital into the West African country. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

New Age Secures Borrowing Facility from AFC, EIG and Wealth Fund

Lagos-based Africa Finance Corporation, an international investment grade multilateral finance institution formed in 2007, is the lead arranger for an up to US$ 425 million senior mezzanine facility for New Age (African Global Energy) Limited, a privately-held oil and gas exploration, development, and production company with assets primarily across Africa. [ Content protected for Sovereign […]

Local Healthcare Investments on the Rise for Wealth Funds

As commodity wealth fund cash channels shrink due to the prolonged low prices of oil and natural gas, sovereign investors are retooling strategies to assist in economic diversification and job creation. Healthcare appears to be an attractive sector for strategic development sovereign wealth funds (SDSWF), as these institutional investors observe a sector rising due to […]

2015: Nigeria’s Foreign Reserves Fall Below $30 Billion

On December 30, 2015, the Central Bank of Nigeria’s (CBN) foreign exchange reserves stood at US$ 29.1 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Sovereign Funds Eye Asian Urbanization Trend

According to a study by Brandon Fuller and Paul Romer of New York University titled, “Urbanization as Opportunity,” around 60 million to 70 million people will be added to the urban population each year for the next 30 years. Most of the rapid change is occurring in emerging markets like China, India and Nigeria. [ […]

SWFI First Read, November 1, 2015

AGAIN: Nigeria Looks to Form Bigger Infrastructure Fund Shifting economic tactics, the government of Nigeria has plans to form a US$ 25 billion infrastructure fund to navigate capital into the energy and transportation sectors. The fund could attract institutional investors both locally and internationally, even from the Nigerian Sovereign Investment Authority (NSIA) and Nigerian domestic […]

Investors Back Sub-Saharan Africa Telecom Infrastructure Fund

Johannesburg-based Convergence Partners raised one of the biggest communication technology infrastructure funds in sub-Saharan Africa – hitting more than US$ 200 million in commitments. Most of the backers were Western development institutions. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Friday SWFI News Roundup, February 20, 2015

NAMA Awards Cushman & Wakefield Corporate Finance NPL Sales Mandate Ireland’s National Asset Management Agency (NAMA) has awarded Cushman & Wakefield Corporate Finance the mandate to sell a portfolio of non-performing loans with a face value of €8.4 billion. The portfolio of non-performing loans consists of approximately 500 borrowers in both residential and commercial properties. […]

GROW: Nigeria Sovereign Investment Authority Seeks to Manage up to $5 Billion

Officials from the Nigerian Federal Government are contemplating the addition of more capital to total US$ 5 billion for the Nigeria Sovereign Investment Authority (NSIA) to manage, the entity that manages three of Nigeria’s sovereign funds. Dr. Ngozi Okonjo-Iweala, Nigeria’s Finance Minister, briefed members on the sidelines of last week’s IMF/World Bank Annual Meeting in […]

NSIA and Seven Energy Ink Deal

The Nigeria Sovereign Investment Authority (NSIA), through its gas and power funds managed on behalf of Nigeria’s Debt Management Office, has signed a commitment letter to invest at least US$ 100 million in senior secured notes issued by Nigeria-based Seven Energy International Limited. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please […]

Dangote Transaction: Dubai Money Flows Into West Africa

Nigeria-based Dangote Cement is a publicly-traded company on the Nigeria Stock Exchange, with a market capitalization of approximately US$ 24.5 billion (largest company in Nigeria by market capitalization). Founded by businessman Aliko Dangote, Dangote Cement received a US$ 300 million investment from the Investment Corporation of Dubai (ICD). In return, ICD received a minority stake […]

Friday SWFI News Roundup, August 15, 2014

Malaysian Airlines to be Fully Acquired by Khazanah Nasional The plagued Asian airlines, Malaysia Airlines, is going to be taken private by Khazanah Nasional, the country’s sovereign wealth fund. The carrier has suffered tremendously after two key disasters in a four month span. Khazanah is currently the largest shareholder in the airlines with a 69% […]

Nigerian Sovereign Wealth to Work With GuarantCo to Assist Infrastructure Shortfall

The Nigeria Sovereign Investment Authority (NSIA) has entered into an arrangement to explore the possible creation of a Nigerian Credit Enhancement Facility (NCEF). By partnering with GuarantCo, a local currency development finance fund, the facility would provide credit enhancement for domestic infrastructure projects by improving their credits ratings toward investment grade. [ Content protected for […]

Singapore’s Temasek Takes Sub-Saharan Africa Energy Bet

Singapore’s Temasek Holdings is moving into the sub-Saharan African natural resource market. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

3 Things to Watch in NSIA Allocation to Infrastructure

The Nigerian Sovereign Investment Authority (NSIA) has made historic moves into domestic infrastructure. The infrastructure fund constitutes 40% of the allocation of the NSIA. On February 26, 2013, the NSIA’s sovereign wealth enterprise, NSIA Motorways Investment Company (NMIC) signed a deal with Julius Berger Investments Ltd. for the NMIC to act as an investment partner […]

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Nigerian Sovereign Wealth Commits 10 Million to Ag-Fund

The Nigerian Sovereign Investment Authority (NSIA), through its infrastructure fund, has committed US$ 10 million to an agriculture-focused financing vehicle known as FAFIN, or Fund for Agricultural Financing in Nigeria. Partners in the deal include Kreditanstalt für Wiederaufbau (KfW), a German-owned development bank based in Frankfurt, and the Nigerian Federal Ministry of Agriculture and Rural […]