Coronation Infrastructure Fund reports N791.5 million first-half profit
The Nigerian infrastructure debt fund posted a strong half-year profit driven by loan interest, though it slightly reduced its semi-annual payout to investors while awaiting new project deployments.
Coronation Infrastructure Fund generated an operating profit of N791.50 million in the first half of 2026, underpinned by heavy interest earnings from its loan book. The Nigerian debt vehicle subsequently proposed a semi-annual income distribution of N8.985 per unit, marking a slight 1.37% decrease from the N9.11 paid in the second half of 2025.
Interest income accounted for virtually all of the fund's N889.78 million total revenue, highlighting its reliance on debt yields. Infrastructure loans produced N576.75 million, while short-term placements added N305.02 million. Operating expenses totaled N98.28 million, with management fees absorbing N74.31 million of that sum, leaving an operating profit margin of 89.0%.
Total assets expanded marginally to N9.88 billion by the end of June, up from N9.80 billion at the close of 2025. This growth was driven by a rise in amortised financial assets to N6.37 billion, even as cash balances fell to N3.51 billion from N4.76 billion. The portfolio is now allocated 70% to senior project finance loans and 30% to money market instruments.
Management indicated that the current money market allocation represents a temporary liquidity holding pattern. The fund is waiting to satisfy conditions precedent before deploying this capital into two specific pipelines known as Project Abode and Project Titan. This transition will be critical for investors watching the fund's ability to maintain its high-yield profile.
Mayowa Ikotun, head of the fund, emphasized a strategy of rigorous underwriting to address national infrastructure deficits. He noted that the third quarter will maintain this focus on disciplined capital allocation and the prudent stewardship of investor funds.
The fund delivered a gross portfolio return of 20.69% with a weighted average yield of 19.18% and an average tenor of 2.17 years. Net asset value per unit stood at N111.81 at the close of the half-year. Shares traded at N116.00 on the Nigerian Exchange on July 17, reflecting a 16.00% year-to-date gain for investors.
