Kenya Pension Fund Investment Consortium into the Lot 3 Road Project Bonds through USAID, the World Bank, and MiDA Advisors Support
MiDA Advisors is pleased to share that members of the Kenya Pension Fund Investment Consortium (KEPFIC) have invested into the Lot 3 Road Project Bonds. KEPFIC is a consortium of private and public sector pension funds in Kenya that have come together to collaborate on investments in long- term infrastructure and alternative assets in the region. This transaction is supported by the United States Agency for International Development (USAID) and the World Bank.
The Lot 3 Road Project comprises the financing, designing, building, maintenance and transfer of two sections of 143km of roads in Wajir (Modogashe – Habaswein – Samatar), closer to the Ethiopia border, and Mandera (Modogashe – Habaswein – Samatar), closer to the Somalia border. This area has few paved roads which hinders local travel, connectivity, and economic development. Funds raised through the bonds will go toward upgrading the roads to paved standards of gravel and earth roads, plus rehabilitating/reconstructing portions of existing roads including bridges, culverts, road intersections, drains, etc., and maintaining them.
Following a mandate from USAID to support KEPFIC’s efforts to mobilize funds into infrastructure transactions, MiDA and its contracting partner, CrossBoundary, worked closely with KEPFIC to analyze and present information related to the project and provide tailored technical assistance to members with interest in investing. These efforts resulted in 18 KEPFIC members participating in the financial close, which was oversubscribed with over $50m dollars being pledged for a $20million financial close. This is a significant milestone for KEPFIC and represents the first allocation under KEPFIC where local pension funds have co-invested together into a local infrastructure project.
The contents of this material are the sole responsibility of MiDA Advisors and do not necessarily
reflect the views of any partners or organizations named in this document.
The contents of this material are the sole responsibility of MiDA Advisors and do not necessarily reflect the views of any partners or organizations named in this document.
