First Asset Management, a top investment company and a part of First HoldCo Plc, has launched a N100 billion infrastructure fund aimed at boosting critical infrastructure projects across Nigeria. The announcement, made on Sunday, is part of the company’s broader plan to close the country’s infrastructure funding gap and support key sectors of the economy.
The new fund, which is denominated in naira, will focus on projects in renewable energy, electricity, waste recycling, waste management, and water resources. These sectors are considered vital for Nigeria’s economic transformation and sustainable development. The company says the initiative is designed to attract both local and international investors interested in long-term impact and stable financial returns.
As part of the rollout, First Asset Management unveiled its Series 1 Offer, which is the first phase of the fund. The Series 1 is a N20 billion offer with a maturity period of ten years. It is open to qualified investors including pension fund managers, institutional investors, development finance institutions, and high-net-worth individuals. The minimum investment amount required is N10 million.
Mr. Ike Onyia, Managing Director of First Asset Management, described the fund as a big move towards national progress. He said the fund is not only focused on profits, but also on improving lives, creating jobs, and promoting environmental protection. According to him, it is aligned with Environmental, Social and Governance (ESG) principles, which help in making responsible investment decisions.
“This launch represents a bold step forward in actualising our promise to support transformative projects that unlock economic potential, empower communities, and align with the global drive towards sustainable finance,” Onyia said in a statement.
He explained that the fund will allow the private sector to work more closely with the government in financing capital-intensive infrastructure developments. This, he said, is important in driving long-term change and supporting economic recovery.
The N100 billion infrastructure fund is designed to provide consistent income streams for investors while contributing directly to national development. By investing in large-scale projects, the fund aims to improve productivity, reduce pollution, and make life better for people living in different communities across Nigeria.
First Asset Management also announced that it now manages over N1 trillion in Assets Under Management (AUM). This milestone shows the company’s increasing influence in Nigeria’s financial sector and its ability to deliver strong investment products that meet both market and social needs.
The launch of this fund also supports the wider strategy of First HoldCo Plc, which recently rebranded from FBN Holdings Plc, to offer a broader range of financial solutions tailored to meet the needs of Nigeria’s growing economy. The holding company wants to play a bigger role in solving economic challenges through well-planned investments and financial innovation.
Investment experts believe the fund could become one of the largest in Nigeria’s private infrastructure financing space. Its strong focus on ESG and impact investing may also attract interest from foreign investors looking to support sustainable projects in Africa’s biggest economy.
This development is coming at a time when Nigeria is in need of more private capital to support its infrastructure drive. Government resources alone have proven insufficient, and private sector participation is now seen as key to achieving long-term development goals.
By launching this infrastructure fund, First Asset Management is positioning itself as a key player in shaping Nigeria’s future through strategic investments. It hopes to build trust among investors, contribute to economic growth, and create lasting value for both its clients and the nation.
