The Securities and Exchange Commission has approved the FCMB-TLG Private Debt Fund, Nigeria’s first private debt fund denominated in naira.
This was disclosed by the CEO of FCMB Asset Management Limited, James Ilori at the signing ceremony, according to Businessday.
The Fund set up in May 2024, is sponsored and managed by FCMB Asset Management Limited as the Fund Manager, with technical help from TLG Capital Investments Limited, United Kingdom. The Fund plans to raise N10 billion under Series 1 of its N100 billion programme size.
Ilori stated that the FCMB-TLG Private Debt Fund focuses on Qualified Institutional Investors and high-net-worth individuals.
He stressed the Fund would invest in commercially viable and impact-oriented initiatives in Nigerian economic sectors linked with the United Nations Sustainable Development Goals, while also offering investors a competitive risk-adjusted return on investment.
Ilori noted that the Fund’s goal is to develop a diverse portfolio of debt, with a focus on economic effect and downside risk mitigation.
He said “This innovative Fund is a significant milestone in the Nigerian financial landscape,” said James Ilori, CEO of FCMB Asset Management Limited, at the signing ceremony held on Monday, June 3, 2024.
“It opens a new avenue for professional investors to participate in the growth of key sectors of the economy while providing essential capital to organisations 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.”
Meanwhile, 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 Finance Fund is prepared to play a significant role in providing appropriate finance to organizations in selected sectors of the Nigerian economy to improve their operations and support their growth objectives.
