CHAPEL HILL DENHAM NIG. INFRAS DEBT FUND

CHAPEL HILL DENHAM NIGERIA INFRASTRUCTURE DEBT FUND (NIDF) was established as a unit trust on February 7, 2017, and commenced operations on June 28, 2017, with the objective of providing debt financing to infrastructure projects and businesses located in Nigeria. The Fund is sponsored by the Chapel Hill Denham group, with Chapel Hill Denham Management Limited acting as its Fund Manager. Initially, units of the Fund were listed on the FMDQ OTC Exchange on July 17, 2017, and it later achieved a listing on the Main Board of the Nigerian Exchange (NGX) on October 5, 2023, enhancing its accessibility to a broader range of investors. NIDF represents the first and only infrastructure debt fund dedicated to and domiciled in Nigeria, and it operates as a close-ended investment trust. The core business model of NIDF revolves around providing long-term local currency debt financing for infrastructure development within Nigeria. The Fund primarily invests in senior and subordinated debt of both private and public sector-led infrastructure projects. Its investment portfolio spans various critical sectors, including the generation, transmission, and distribution of electricity (including renewable sources), transportation and logistics (such as ports, airports, highways, and mass transit systems), telecommunications infrastructure (mobile towers, fiber optics, and data centers), storage and transport of natural gas, water treatment, waste management, and social infrastructure like hospitals and educational facilities. NIDF's primary market is Nigeria, where it seeks to build a diversified portfolio of investments that offer predictable cash flows and contribute to essential economic and social services.