The Securities and Exchange Commission (SEC) has given the green light to the FCMB-TLG Private Debt Fund, marking the establishment of Nigeria’s first Naira-denominated private debt fund.
Sponsored and managed by First City Monument Bank (FCMB) Asset Management Limited (FCMBAM) with technical support from the UK-based TLG Capital Investments Limited (TLG Capital), the Fund aims to raise N10 billion under the first series of its N100 billion programme.
Launched in May 2024, the FCMB-TLG Private Debt Fund targets Qualified Institutional Investors (QIIs) and high-net-worth individuals (HNIs). It focuses on commercially viable and impact-oriented investments in key sectors of the Nigerian economy that align with the United Nations Sustainable Development Goals (SDGs).
The Fund promises investors competitive risk-adjusted returns while emphasizing economic impact and downside risk protection through a diversified debt portfolio.
“This innovative fund is a significant milestone in the Nigerian financial landscape. It opens a new avenue for professional investors to participate in the growth of key sectors of the economy while providing essential capital to organizations driving sustainable economic growth and development in Nigeria. The launch of the FCMB-TLG Private Debt Fund means Nigeria now joins the rest of the international investment community in offering Private Credit as an investment option under Alternative Assets,” stated Mr. James Ilori, Chief Executive Officer of FCMB Asset Management Limited, at the signing ceremony held on June 3, 2024.
Mr. Aletor Adoghe, representing TLG Capital in Nigeria, stated: “We are delighted to partner with FCMB Asset Management in pioneering this fund. The fund aligns with our commitment to investing in untapped markets and will significantly contribute to Nigeria’s broader economic development.”
The FCMB-TLG Private Debt Fund is set to play a vital role in providing suitable debt to organizations within selected sectors of the Nigerian economy, thereby enhancing their operations and supporting their growth aspirations.
