CardinalStone Advances Infrastructure Investment with ₦12.625bn Series 1 Raise
CardinalStone Asset Management has significantly advanced Nigeria’s infrastructure financing landscape with the successful close of ₦12.625 billion for Series 1 of its Infrastructure Debt Fund, marking a pivotal milestone in mobilizing private capital for critical national development.
This achievement represents the first tranche of the broader ₦500 billion CardinalStone Umbrella Infrastructure Fund the first of its kind in Nigeria designed to channel long-term investment into vital sectors through both debt and equity strategies.
Investors’ strong appetite for the Series 1 close reflects growing confidence in well-structured, long-term financing vehicles tailored to Nigeria’s needs. The Debt Sub-fund will deploy capital into high-impact areas such as power and renewables, gas infrastructure, telecommunications and digital infrastructure, transportation and logistics, social infrastructure, and utilities sectors central to unlocking economic growth and improving quality of life.
Commenting on the fund’s success, CardinalStone’s leadership highlighted how this initial raise validates the firm’s strategic vision and execution capability, underpinned by robust governance, disciplined risk management, and strong environmental, social, and governance (ESG) frameworks.
The close also underscores the vital role that institutional investors including pension funds and insurance firms can play in bridging Nigeria’s estimated multi-trillion-dollar infrastructure financing gap over the coming decades.
With plans to continue capital raising under the Debt Sub-fund and launch the Equity Sub-fund, CardinalStone is positioning itself as a key enabler of long-term infrastructure investment in Nigeria. This initiative not only offers investors predictable returns but also drives sustainable development by financing assets that form the backbone of economic progress.
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