United Capital appoints four experts to Infrastructure Fund Committee

United Capital Plc has strengthened the governance of its United Capital Infrastructure Fund (UCIF) by appointing four seasoned infrastructure investment specialists as independent members of the fund’s Investment Committee. The move, ratified and cleared by the Securities and Exchange Commission (SEC), aims to enhance oversight and position the fund to capitalize on growing infrastructure opportunities across Nigeria and Africa.

The newly appointed members include De Buys Scott, who assumes the role of Chairman, alongside Olubunmi Akinremi, Bola Bamidele, and Obinna Ufudo. They join existing committee members Odiri Oginni, UcheNna Mkparu, and Adeyinka Jafojo. The appointments follow the conclusion of Samuel Nwanze’s tenure, with United Capital expressing deep appreciation for his valuable contributions to the fund’s rigorous investment processes.

UCIF, a ₦150 billion closed-ended fund focused on high-impact sectors such as power, industrial recycling, and renewable energy, continues to deliver impressive performance. The fund has posted a year-to-date gross return of 24.62%, underscoring investor confidence in structured infrastructure assets and the fund’s disciplined approach.

Commenting on the development, Peter Ashade, Group Chief Executive Officer of United Capital Plc, emphasized the strategic intent behind the changes.

“These appointments were made to further deepen the Fund’s governance and ensure that UCIF continues to drive sustainable impact through its investments,” Ashade said. “I welcome the newly appointed members of the Investment Committee and charge them to ensure sustainable growth and impact, while delivering consistent value to our investors.”

The appointees bring extensive multinational expertise and decades of cross-sector experience in infrastructure financing, public-private partnerships, and impact investing.

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De Buys Scott, the new Chairman, serves as Managing Partner at Cornerstone Infrastructure Advisors and formerly held the position of Senior Partner, Infrastructure at KPMG South Africa. A qualified Chartered Accountant, he specializes in PPPs, corporate and project finance, and capital-raising in transportation, passenger rail, healthcare, and mixed-use real estate.

Olubunmi Akinremi is CEO of Tocam Capital, a project development firm focused on natural resources and infrastructure. With over 30 years in investment banking and corporate finance across Nigeria, the USA, and the UK, he has raised more than $5 billion for the Nigerian market. He previously advised two Nigerian Presidents on economic policy and held non-executive roles in financial services and real estate.

Bola Bamidele, recently retired from the World Bank Group’s International Finance Corporation (IFC) after nearly 25 years, was Sub-Saharan Africa Regional Lead for Transaction Advisory and Equity Mobilization. Her expertise spans impact investments, M&A advisory, infrastructure, and structured/project finance across Africa, Latin America, Asia, and Europe.

Obinna Ufudo is a veteran executive with over 30 years in banking, investment, infrastructure, energy, and social impact. He chairs Loanbook Limited and Atiat Limited, serves as a Non-Executive Director at Abbey Mortgage Bank, and previously led a successful turnaround as President/Group CEO of Transnational Corporation of Nigeria Plc (Transcorp), delivering over US$1 billion in shareholder value in three years. He is also Founder/Chairman of the Sir Pius Ufudo Foundation.

UcheNna Mkparu, Chief Investment Officer and Fund Manager at UCIF, welcomed the reinforcements, highlighting their potential to guide future growth.

“We are delighted to welcome the new members to the Investment Committee and would be counting on their track record, wealth of experience across multiple jurisdictions and impeccable professional reputations to steer UCIF’s strategic direction as we scale investments that deliver competitive returns across Nigeria and Africa,” Mkparu stated.