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Nigeria’s SWF to Develop Infrastructure Platform with AFC

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oil_refineDeveloping infrastructure in sub-Saharan Africa is a capital intensive, intricate undertaking requiring investors with a technical capacity. Large pools of assets that are long-term oriented like sovereign funds and pensions can play a role in financing infrastructure. The Africa Finance Corporation (AFC), a multilateral institution, and the Nigeria Sovereign Investment Authority (NSIA) signed a Memorandum of Understanding (MoU) that details strategic collaboration on building an infrastructure investment platform. To jumpstart critical infrastructure investment in Nigeria, both entities plan to support the financing, development and operational aspects of future infrastructure projects.

Currently, infrastructure investment activity in sub-Saharan Africa has been heavily allocated toward natural resources and industrial activities. Vital infrastructure deficits affecting human prosperity and economic growth are found in the transportation and power sectors.

Created in May 2007, the Africa Finance Corporation with a capital base of US$ 1 billion aims to stimulate private sector investment in infrastructure by filling a critical void. Partnership with organizations like the AFC assists the Nigerian Infrastructure Fund of fulfilling its mandate to increase investment in Nigerian infrastructure.

Africa Finance Corporation Shareholders
African Financial Institutions 47.6%
Central Bank of Nigeria 42.5%
Industrial and Corporate Shareholders 9.8%

CPPIB Tries Out CLO Equity Tranche Investing with Sound Point Capital

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Canada Pension Plan Investment Board (CPPIB) through its wholly-owned subsidiary, CPPIB Credit Investments Inc. (CPPIB Credit), is broadening its portfolio through new investments in equity tranches of collateralized loan obligations (CLOs) alongside experienced CLO asset managers. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CalPERS Names Yu Ben Meng as Chief Investment Officer

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The California Public Employees’ Retirement System (CalPERS) announced that Yu Ben Meng has been selected as the pension fund’s new chief investment officer (CIO). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Ontario Nonprofit Network Awards Mandate to OPTrust

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The Ontario Nonprofit Network (ONN), a nonprofit network for the 58,000 nonprofits in Ontario, selected OPTrust to manage defined benefit assets. ONN selected OPTrust Select, the new defined benefit solution from OPTrust. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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