Energy infrastructure to get $50m boost

on   /   in Insurance and You 12:32 am   /   Comments

By Rosemary Onuoha

The Alternative Investment arm of Old Mutual Investment Group, said it will stake $50million under the Nigeria Infrastructural Development Fund effect from next year.

It also said it will spend part of its $5 billion investment fund mapped out for Africa in the country’s power sector.

Rojie Kisten, Head of Capital Raising of  Old Mutual Infrastructural Investment who disclosed this to Journalists in Cape Town, South Africa, also said the country is interested in investing in low housing scheme in the country. She however said Nigeria will benefit in the second phase of the scheme which is expected to take off in the year 2016.

She mentioned other areas of investment interest in Nigeria in its long term plan as agricultural sector, railway sector, among others.

Also speaking, Head of Alternative Investments of the Group, Mr. Paul Boynton, said the Nigerian economy is going to witness massive growth from the privatisation going on in the energy sector and there is need for the private sector to be involved.

Boynton said that Alternative Investments is one of the largest alternative investment managers in Africa, with assets under management of approximately $5 billion as at October 2013 and manages investments in private equity, infrastructure, mezzanine debt and a range of impact funds.

According to Boynton, the company builds capabilities that generate invetsment outcomes with higher returns than traditional asset classes or with lower correlation to traditional asset classes, which results in diversification benefits for clients portfolios.

He said, “We leverage our respected brand, depth of experience and expertise as well as our extensive network of strategic relationships to produce attractive deal flow; execute projects professionally and timeously; continously add value as well as focus on sustainability.”

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