Private Equity

Nigeria Healthcare Development Fund

The Nigeria Healthcare Development Fund (“NHDF”) is a Naira-denominated Healthcare-focused Private Equity (PE) Fund set up under a Trust structure to unlock investment capital for the Healthcare industry from Nigerian pension funds, institutional investors and high net-worth individuals. The Fund’s management team is made up of professionals with extensive experience in healthcare investing and operations, financial advisory and infrastructure development.

The Fund is seeking investment opportunities across the entire healthcare value chain and has as its primary objective, the development of a resilient, large-scale ecosystem of city-based assets designed to meet the healthcare needs of a growing population.

NHDF Objective

The Fund’s primary objective is the development of a resilient, large-scale ecosystem of city-based assets designed to meet the healthcare needs of a growing population. The Fund has achieved first close at N7.5 Billion and is seeking investment opportunities across the entire healthcare value chain such as:

  • Hospital networks (primary, secondary and tertiary care)
  • Super-specialty clinical verticals (oncology, cardiology, diabetes, dialysis, ophthalmology, dentistry and mental health)
  • Integrated diagnostics & integrated pharmaceutical networks
  • Education and training facilities (nursing and allied medical services)
  • Healthtech opportunities that present a unique scaling and impact proposition
  • Public-Private Partnerships (PPP) & Comprehensive health insurance

Investment Criteria

➊ Providing quality healthcare services across entire value chain
➋ Strong management and operational capability
➌ High quality clinical and support staff
➍ Owned or leased infrastructure in attractive locations

➊ Seek opportunities drawn from entire healthcare value chain
➋ Multiple income streams & Diverse client base
➌ Clear view on regulatory landscape and likely impact on business

➊ Current or future market leader
➋ Cost leadership
➌ Capacity for innovation, differentiation and acceleration
➍ Strong barriers to entry
➎ Brand strength
➏ Above average growth potential

➊ Avoid pure play technology companies due to fast-changing landscape
➋ Select companies able to leverage technology to scale-up and broaden scope of operations

➊ Strong profitability margins relative to peers
➋ Strong growth prospects in early stage companies
➌ Guaranteed revenues or secured cashflows

➊ Seek investment opportunities able to deliver substantial scale economies
➋ Platform or ecosystem orientation, not stand-alone
➌ Adopt a buy and build approach



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Africa Infra Plus Fund

This is a ₦20.5 billion closed-end Infrastructure Fund structured to provide an investment platform for Nigerians and international investors to invest in infrastructure assets in Nigeria and other sub-Saharan Africa countries. This fund is jointly-managed by Capitaltrust Investment & Asset Management Limited and Africa Plus Partners.

Key Fund Features

  • The target of the Fund is to deliver an IRR of 25%+ and offers an attractive risk-adjusted investment option
  • Skin-in-the-game (sponsor/fund manager currently holds 11% of fund size ensuring alignment of incentives with investors)
  • Successful track record with an experienced team (team has over 50+ years in developing, financing and realizing investments in Emerging Markets with a track record of delivering IRRs > 25% and money multiple >2.0x)
  • Strategic alliance with AFC and Infracredit (benefits from African Markets relationships and experience)
  • Differentiated investment strategy (focus on urban and core infrastructure catering to small- to-mid sized projects which can be securely delivered within the fund life of 10 years)
  • Ready-to-go deals (actionable deal pipeline)
  • De-facto positive socio-economic impact (mostly green-field projects leading to job creation and skill transfer)
  • On-the-ground presence across Nigeria


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