AFC Capital Partners launches climate-resilient infrastructure fund in Nigeria

AFC Capital Partners has launched the Infrastructure Climate-Resilient Fund Nigeria (ICRF Nigeria), a closed-end investment vehicle registered with Nigeria’s Securities and Exchange Commission. The fund is designed to channel capital from Nigerian institutional investors, including pension funds, insurers, and asset managers, into climate-resilient infrastructure projects.

ICRF Nigeria is part of a broader $750 million Infrastructure Climate-Resilient Fund. This larger initiative utilizes a blended capital model to reduce risks for private investors by combining commercial and concessional capital. Key contributors include the Green Climate Fund, which has committed $253 million as a first-loss investor, and the European Investment Bank, which provided $52.48 million. Other participating institutions include the Development Bank of Southern Africa, Cassa Depositi e Prestiti, and the Nigeria Sovereign Investment Authority.

The fund targets sectors such as renewable energy, transport, logistics, digital infrastructure, and industrial development. Each investment undergoes assessment for physical and transition climate risks, including exposure to extreme weather and emissions pathways. AFC Capital Partners expects the platform to mobilize up to $3.7 billion in total financing for approximately 10 to 12 infrastructure projects across Africa.