The Chapel Hill Denham Nigeria Infrastructure Debt Fund (“NIDF” or the “Fund”) is the first and only infrastructure debt fund dedicated to and domiciled in Nigeria.

It is classified as an Infrastructure Fund under the relevant rules and regulations of the Securities & Exchange Commission (“SEC”), Nigeria and the National Pension Commission, Nigeria.

NIDF’s Units are listed on the FMDQ OTC Securities Exchange, Nigeria. The Fund has registered a programme for issuance of up to two billion Units with par value of N200 billion. The ISIN for NIDF units is NGCHDNIDF005.
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NIDF is sponsored by the Chapel Hill Denham group and Chapel Hill Denham Management Limited acts as the Fund Manager of NIDF.
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The Fund Manager is rated “A” by Agusto & Co.

'A' Rated Fund

Investment Objectives

NIDF aims to provide investors regular and stable income by making primarily debt investments in infrastructure projects located in Nigeria. It seeks to build a diversified portfolio of investments in projects that;

(i) provide essential economic and social services;  (ii) have long-term predictable cash flows; and (iii) have asset base with long useful life.

NIDF focuses on making investments that offer high degree of certainty about the future cash flows to be received by the Fund, while seeking to preserve the capital value of its investment assets over the long term. The Fund’s investment portfolio of infrastructure loans and other securities targets a gross return of 3.00% to 4.50% over and above the comparable federal government bond yields prevailing from time-to-time in Nigeria.
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Accordingly, the infrastructure loans extended by the Fund are denominated in Naira and carry a floating rate of interest (linked to the prevailing government bond yields in Nigeria). The income generated by the Fund, in the form of coupon and fees received from the borrowers, is distributed periodically to the Unitholders, after deducting the operating expenses of the Fund.

Investment policy

NIDF aims to provide investors regular and stable income by making primarily debt investments in infrastructure projects located in Nigeria. It seeks to build a diversified portfolio of investments in projects that;
Generation of electricity, including from renewable sources, and its transmission and distribution.
Transportation & logistics, including ports, airports, highways, railway transportation, mass transit systems, industrial zones and warehouses.
Provision of utilities as well as municipal and industrial waste management.
Social infrastructure such as hospitals, schools, training facilities, accommodation and similar facilities, developed primarily on PPP basis.
Infrastructure for provision of telecommunication services including mobile telecom towers, fibre optic networks and data centres.
Storage and transportation facilities for hydrocarbons, including natural gas.
Water treatment, transmission and distribution for domestic, commercial or industrial use, wastewater treatment and water recycling.
The Fund may also invest, directly or indirectly, in the working capital loans, subordinated debt, preferred shares or warrants of such borrowers and related assets. At least 80% of Fund’s assets will be invested in senior debt, securitized debt or loans to government agencies. Not more than 20% could be invested in working capital loans, subordinated debt, preferred shares or warrants.

Parties to
the fund