Speaking to the House Committee on Banking and Currency on the 10th of February, Uche Orji, CEO of the Nigerian Sovereign Wealth Fund (NSIA) explained that four unnamed global Sovereign Wealth Funds (SWFs) have committed $100 million each into the NSIA’s $1 billion Real Estate Co-Investment Fund (RECF).

Earlier today, an NSIA representative explained to estate intel that nothing had been inked yet but an official statement would be released over the next few weeks once the transaction was finalised.

The fund is part the NSIA’s Infrastructure Strategy and will be used for the redevelopment of Nigeria’s existing buildings as well as greenfield developments. Orji was confident of the Federal Government’s ability to optimise their significant domestic and overseas real estate assets.

Of the three created by the NSIA, the Nigerian Infrastructure Fund will have the largest investments in real estate. Aside real estate, this fund will also invest in other sectors including Agriculture, Healthcare, Power, Motorways and more. In their most recent annual report, the NSIA mentioned that they had been active in appraising investment opportunities across the affordable and mass housing, commercial and hospitality real estate segments.