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PFAs strengthen ties, capacity for investment in private equity

PFAs strengthen ties, capacity for investment in private equity

The African Private Capital Association (AVCA) in partnership with Pension Fund Operators Association of Nigeria (PenOp) and the Private Equity and Venture Capital Association (PEVCA), in a series of meetings recently deepened understanding of private capital investment in Nigeria and the wider West Africa region.

The primary goal was to provide a platform for Pension Fund Administrators in Nigeria (PFAs) and other Limited Partners (“LPs”) to network and exchange knowledge with private capital fund managers and industry practitioners, fostering stronger connections and collaborations between these two sectors.

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Pension funds’ investment in private capital in Nigeria has remained relatively low and that is why these organisations joined forces to host a series of events designed to enhance the comprehension of this asset class and, ultimately, increase institutional investor fund allocations to private capital investments in Nigeria.

Oguche Agudah, CEO of PenOp, said, “These sorts of market building events are very important for the ecosystem locally to get the pension fund managers more comfortable with the private equity fund managers and engage in frank dialogues and jointly proffer solutions that are workable and would move the needle in the preferred direction.”

Abi Mustapha- Maduakor, CEO of AVCA said, “AVCA has been facilitating these sorts of sessions in various African markets. Nigeria is a very important market because of the volume of transactions and the potential impact that private capital has on the general economy. One of our key aims is to bring players together so that local institutional investors are better equipped to invest a higher percentage in private capital as an asset class.”

The series of events took place in Lagos from October 19th to 25th, 2023.

It kicked off with a networking event sponsored by TNP, offering professionals a relaxed and informal environment to meet, forge new connections and deepen existing relationships.

Subsequently, an LP private capital masterclass was conducted, featuring world-class private equity professionals facilitating the sessions. Pension funds and private equity professionals were educated on various aspects, including selecting promising investments, gaining a better grasp of private equity in the Nigerian context as well as internationally, raising funds, attracting investors, choosing adept fund managers, and effectively navigating macroeconomic challenges.

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The highlight of the series was the Limited Partners Roundtable, where a number of Pension funds and Development Financial Institutions came together as institutional investors to share learnings and experiences.

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