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MDG Nigeria Infrastructure Fund
Africa's Pioneer Infrastructure Fund: 7 Sub-Funds. 10-Year Horizon.
The MDG Nigeria Infrastructure Fund is a privately-managed, close-ended infrastructure fund structured as a Limited Partnership to finance and implement the MDG Project Nigeria (2027–2036), a transformational industrial development programme spanning seven strategic sectors of the Nigerian economy. MDG Investment Company Limited serves as General Partner. The Fund is in the process of registering as a licensed Fund/Portfolio Manager with the Securities and Exchange Commission (SEC), Nigeria.
Fund at a Glance
18.8%
Gross IRR, Infrastructure Sleeves
16.0%
Net IRR, Infrastructure Sleeves
2.44x
Gross MOIC, Infrastructure Sleeves
2.25x
Net MOIC, Infrastructure Sleeves
7
Sub-Fund Portfolios
8.0% p.a.
Preferred Return / Hurdle Rate
20%
Carried Interest (above hurdle)
7 Years
Investment Horizon (Consolidated Infrastructure Strategy)
The 7 Sub-Fund Portfolios
Each sub-fund is dedicated to one anchor project and sector. The Fund comprises seven dedicated sub-funds, each aligned to a specific anchor project.
The first six sub-funds form the consolidated infrastructure strategy over a 7-year horizon. The Financial Services Sub-Fund is modelled separately over a 10-year horizon due to its distinct portfolio composition and distribution structure. All figures are base-case model outputs only and are subject to change pending final structuring, legal documentation and investor due diligence.
Mission & Vision
Mission
To invest in domestic companies and projects that deliver targeted financial returns, stimulate economic growth and diversification, enhance the non-oil sector's contribution to Nigeria's GDP, and generate meaningful employment opportunities.
Vision
To position the MDG Nigeria Infrastructure Fund as a leading infrastructure investment fund in Africa, driving industrialisation, fostering sustainable economic growth, and promoting long-term value creation across Nigeria's critical sectors.
Exit Framework
01
Equity Structure
The Fund typically holds 60% equity in each project company, with the remaining 40% held by strategic partners such as GLWD Investment Company Limited or other project sponsors.
02
Interim Distributions
Fixed preference dividends or structured interim distributions of 2%–4% p.a. during the operational phase, depending on project cash flow profile.
03
Exit Transaction
At end of investment term (~7 years for infrastructure), the Fund exits through sale of its equity stake to GLWD Investment Company Limited, strategic partners, or other approved acquirers at 1.2x–1.5x invested capital.
04
Post-Exit Ownership
Upon exit, GLWD Investment Company Limited assumes 100% ownership of the project company, redirecting capital towards the Green Line White Dots Initiative (education, healthcare, sports).
05
Buyout Funding
Exit buyout funded through a combination of project operating cash flows, refinancing proceeds, sponsor capital, strategic partner capital, and external debt financing secured by the acquiring party.
Phase Roadmap (2026–2037)
1
Phase 0 (2026): Fund Organisation & Formation
MDG Investment Company Limited established as General Partner; governance framework and Board structure defined; legal, audit, tax, and fund administration advisers engaged; offering documents prepared; SEC Nigeria registration process initiated.
2
Phase 1 (2026–2027): Fundraising & First Close
Private placement to eligible institutional investors; target First Close; execute NDAs and data room access; finalise bankability assessments for priority anchor projects; begin EPC, O&M, and off-take negotiations; achieve Financial Close on priority sub-funds.
3
Phase 2 (2027–2029): Investment Period & Construction
Capital deployed into anchor project companies across all seven sub-funds; OHL Industrial City construction commences; anchor projects enter their 2-year moratorium and construction period; no distributions during this phase.
4
Phase 3 (2029–2035): Portfolio Management & Operations
MDG Project Nigeria anchor projects enter operational phase; annual distributions commence across the consolidated infrastructure sleeves; quarterly Investment Committee reporting; GLWD social infrastructure programme begins.
5
Phase 4 (2035–2036): Exit & Social Reinvestment
Structured exit from the six consolidated infrastructure sub-funds at 1.2x–1.5x invested capital; GLWD Investment Company Limited assumes 100% ownership of project companies; exit proceeds redirected to the Green Line White Dots Initiative. The Financial Services Sub-Fund continues independently through to its final exit and realisation period in 2037.
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