Kenyan pension fund

What Kenyan pension fund does

Kenya Pension Funds Investment Consortium (KEPFIC) is a Nairobi-based consortium of prominent Kenyan retirement benefit funds, incorporated as a company limited by guarantee under Kenya's Companies Act, 2015, and operating as an industry association rather than a traditional corporate entity. Founded in 2017 and formally launched in October 2020, KEPFIC enables member pension funds to collectively identify, structure, and execute long-term infrastructure and alternative asset investments in Kenya and the broader East African region — addressing a Kenya infrastructure financing deficit estimated at USD 2 billion annually. The consortium pools investment capital from local pension funds and offshore co-investors, with a stated target to mobilize USD 250 million over five years, and benefits from technical and advisory support from implementation partners including USAID and the World Bank.

KEPFIC's core offering is a consortium service platform that delivers economies of scale in deal sourcing, structuring, and due diligence; capacity building through workshops, webinars, and project site tours; co-investment facilitation with global pension funds; regulatory advocacy with the Retirement Benefits Authority and other stakeholders; and networking across local and international institutional investors. The consortium sits within a favorable regulatory context: recent Retirement Benefits Authority guidelines permit Kenyan pension funds to invest up to 10% of their assets into infrastructure, unlocking over USD 1 billion into the asset class across Kenya's 1,300+ pension funds.

The consortium's go-to-market is direct, invitation-based membership for Kenyan retirement benefit funds, with public-facing communications handled through its website, events, webinars, and news publications. KEPFIC does not charge fees disclosed in the source data; its financial mechanics center on pooling committed member capital and routing it into infrastructure deals. The organization is governed by a Steering Committee of founding members and managed day-to-day by a small Secretariat, with the only named leader being Ngatia Kirungie as Head of Secretariat and Founder.

Name

Kenyan pension fund

Legal name

Kenya Pension Funds Investment Consortium

Website

https://kepfic.co.ke

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

KEPFIC is a Nairobi-based consortium of Kenyan retirement benefit funds that pools capital to collectively invest in long-term infrastructure and alternative assets in East Africa, targeting USD 250 million mobilized over five years.

Ownership category

akta.pro rank

Product category

Pension Fund Consortium / Institutional Infrastructure Investment

NAICS

Portfolio Management and Investment Advice (523940), Pension Funds (52511), Funds, Trusts, and Other Financial Vehicles (525), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282), Investors, Nec (6799)

akta.pro primary industry

Core Infrastructure Funds (Transport, Social, Digital, Utilities) (FSANAEAA)

akta.pro secondary industries

Energy & Power Infrastructure Funds (Generation, Transmission, Storage) (FSANAEAB), Social Infrastructure Funds (Schools, Hospitals, Civic) (FSANAEAN), Infrastructure & Project Finance Advisory (BPAHADAO), Sovereign Wealth Funds (SWFs) (FSAAAGAD)

Keywords

• Pension fund consortium
• Infrastructure investment
• Retirement benefit pooling
• Alternative asset management
• Institutional investment vehicles

Headquarters

HQ city

Nairobi

HQ country

Kenya

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Distribution channels1 record

Marketing channels5 records

Core offering

KEPFIC is a consortium of prominent Kenyan retirement benefit funds that pools capital from its members to invest in infrastructure projects and alternative assets in Kenya. The consortium aims to mobilize USD 250 million over 5 years to channel pension fund capital into long-term domestic infrastructure and alternative asset investments, addressing a gap where over 1,300 Kenyan pension funds are typically too small to access such opportunities individually.

Product overview

KEPFIC is a single unified consortium offering that provides infrastructure and alternative asset investment services to Kenyan pension funds. The consortium enables member funds to pool resources, share investment expertise, access capacity building programs, and co-invest with international pension funds. Key service components include asset pooling for infrastructure investments, investment selection and due diligence support, co-investment facilitation with global pension funds, technical support from implementation partners (USAID, World Bank), advocacy efforts with regulators, and networking initiatives. KEPFIC operates as a company limited by guarantee under Kenya's Companies Act, 2015, governed by a Steering Committee of founding members and managed by a Secretariat.

Differentiator

Problem solved

Functional benefit

Products and services

• Pooled Infrastructure and Alternative Asset Investment Vehicle

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered minor and core.

• CISI KenyaminorStrategic or Co-development Partner · 21 January 2022Joint KEPFIC & CISI Kenya webinar on infrastructure investing – a case study of Kenya. CISI (Chartered Institute for Securities & Investment) Kenya collaborated on capacity building webinar focusing on infrastructure investment opportunities and risks in Kenya.
• U.S. National Association of Securities ProfessionalsminorGTM or Marketing Partner · 1 April 2019Supported the visit of 30 U.S. pension and asset management fund representatives to Kenya to evaluate infrastructure investment potential. The visit was organized to explore opportunities and strengthen investment partnerships.
• USAIDcoreImplementation/ SI/ Consulting PartnerUSAID provides technical support to KEPFIC in the investment selection and execution process. USAID is part of the implementation partners engaged by the Steering Committee to provide advisory and technical support to achieve investment goals.
• World BankcoreImplementation/ SI/ Consulting PartnerThe World Bank provides technical support to KEPFIC in the investment selection and execution process. The World Bank is one of the implementation partners engaged to provide advisory and technical support.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• African Infrastructure Investment Managers (AIIM): One of Africa's largest dedicated infrastructure fund managers, originating and managing infrastructure equity investments across the continent. AIIM provides a comparable institutional infrastructure investing platform to KEPFIC, with a longer track record but broader geographic scope.
• Emerging Africa Infrastructure Fund (EAIF): Private-sector fund providing debt finance for infrastructure projects across sub-Saharan Africa, backed by development finance institutions. Directly comparable to KEPFIC's mandate of channeling long-term institutional capital into African infrastructure, with overlapping investor base.
• Africa50: Pan-African infrastructure investment platform that pools institutional capital to finance infrastructure projects across Africa. Directly comparable to KEPFIC's consortium model for mobilizing institutional (including pension) capital into African infrastructure assets.
• InfraCo Africa: Donor-funded infrastructure development company that originates and develops early-stage infrastructure projects in sub-Saharan Africa for eventual sale to long-term investors. Comparable to KEPFIC's project pipeline function within the African infrastructure value chain.

Broad incumbents

• Sanlam Investments: Pan-African asset management business with substantial institutional and pension fund mandates across Africa, including alternatives and infrastructure exposure. Comparable institutional client base and infrastructure investment capabilities to KEPFIC, though at much larger scale.
• IFC InfraVentures: World Bank Group/IFC early-stage infrastructure project development facility. Comparable given KEPFIC's World Bank partnership and shared objective of de-risking African infrastructure projects to attract institutional investor capital.
• British International Investment (BII): UK development finance institution that invests across sectors in African infrastructure, including through co-investment partnerships with pension funds and institutional investors. Overlaps with KEPFIC's mandate of crowding-in institutional capital to African infrastructure, though at significantly greater scale.
• Old Mutual Investment Group: Large pan-African asset manager with significant infrastructure and alternatives capabilities serving pension fund clients across multiple African markets. Comparable as both a competitor and potential co-investment partner for KEPFIC on regional infrastructure deals.
• African Development Bank (AfDB) Infrastructure Funds: Multilateral development institution operating multiple infrastructure-focused funds across Africa, including co-investment partnerships with African pension funds. Provides overlapping institutional infrastructure capital deployment mission with KEPFIC at significantly greater scale.

Regional players

• Pension Fund Operators Association of Nigeria (PenOp): Industry association representing Nigerian pension fund operators, with growing focus on infrastructure investment channels for pension capital. Closely analogous institutional structure to KEPFIC, operating in a parallel regional pension market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kenyan pension fund