The United Capital Infrastructure Fund (UCIF) has recorded a year-to-date gross return of 24.62 per cent as it strengthens its governance framework with the appointment of new independent members to its Investment Committee.
United Capital Plc, the fund manager, announced that four infrastructure and investment professionals have been appointed to the Investment Committee of UCIF, following ratification and clearance by the Securities and Exchange Commission (SEC).
The new appointees are De Buys Scott, who will serve as Chairman, alongside Olubunmi Akinremi, Bola Bamidele and Obinna Ufudo as independent members.
According to the company, the appointments come as UCIF continues to expand its footprint across key infrastructure sectors, including power, industrial recycling and renewable energy, where the fund has delivered strong performance amid challenging macroeconomic conditions.
United Capital said the enhanced committee composition is aimed at deepening governance, strengthening investment oversight and positioning the fund to capture emerging infrastructure opportunities.
Commenting on the development, Group Chief Executive Officer of United Capital Plc, Peter Ashade, said the appointments were made to further entrench strong governance practices and ensure the fund continues to deliver sustainable impact alongside competitive returns.
He noted that the new members bring deep sector expertise and global exposure that will support UCIF’s long-term growth objectives while safeguarding investor value.
Chief Investment Officer and Fund Manager of UCIF, UcheNna Mkparu, also welcomed the new appointees, describing their addition as timely as the fund scales its investment activities.
According to him, their combined experience across multiple jurisdictions and infrastructure sub-sectors would help steer the fund’s strategic direction and enhance its ability to deliver consistent returns across Nigeria and the wider African market.
De Buys Scott, the newly appointed Chairman of the Investment Committee, is the Managing Partner at Cornerstone Infrastructure Advisors and a former Senior Partner, Infrastructure, at KPMG South Africa, with extensive experience in public-private partnerships, project finance and capital raising across Africa and international markets.
According to the company, Chief Executive Officer of Tocam Capital, Olubunmi Akinremi brings over three decades of investment banking and corporate finance experience, including raising more than $5bn for the Nigerian market.
Bola Bamidele joins from the World Bank Group, where she spent nearly 25 years at the International Finance Corporation, specialising in transaction advisory, equity mobilisation and impact investments across several regions.
Obinna Ufudo, a former Group Chief Executive Officer of Transnational Corporation of Nigeria Plc, is a seasoned board director with extensive experience in infrastructure, energy, banking and social impact.
The company also announced the exit of Samuel Nwanze from the Investment Committee following the completion of his tenure, expressing appreciation for his contributions to the fund’s rigorous investment processes.
UCIF is a Securities and Exchange Commission-licensed, ₦150bn closed-ended fund focused on financing infrastructure and related projects across Sub-Saharan Africa.
The fund targets sectors such as agribusiness, industrial recycling, renewable energy, gas infrastructure, healthcare and manufacturing, with a mandate to deliver competitive returns while supporting sustainable economic growth and development
