FCMB Asset Management Limited (FCMBAM) is pleased to announce the official opening of the FCMB-TLG Private Debt Fund Series 2 offer of up to Twenty Billion Naira (N20 billion), following the receipt of all relevant regulatory approvals.
The offer, which opened today, Monday 26 January 2025, is targeted at Qualified Institutional Investors (QIIs) and High Net Worth Individuals (HNIs).
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Similar to Series 1, proceeds of the Series 2 Offer will be invested in the debt component of the capital structure of mid-sized companies with commercially viable and impact-oriented activities in sectors of the Nigerian economy aligned with the United Nations (UN) Sustainable Development Goals (SDG), while providing investors with an opportunity to earn competitive risk-adjusted return on investment.
Specifically, the Series will aim to provide further support to companies in Agriculture, Clean Energy, Education, Healthcare, IT/Technology, and Transport/Logistics.
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The FCMB-TLG Private Debt Fund holds the distinction of being Nigeria’s first Naira-denominated Private Debt Fund, with a programme size of ₦100 billion approved by the Securities and Exchange Commission (SEC) in 2024.
The Fund’s Series 1 closed in September 2024 and witnessed significant investor interest in an Offer that was 4.3% oversubscribed, as a total of N10.43 billion was raised from five (5) different investor categories, including top-rated Pension Fund Administrators (PFAs).
Despite prevailing macroeconomic headwinds, Series 1 delivered positive real and competitive risk-adjusted returns in 2025 and paid distributions to unitholders in April and November 2025, reaffirming the resilience and relevance of Private Debt as an income-generating Asset Class.
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Commenting on the launch of Series 2, James Ilori, Chief Executive Officer (CEO) of FCMB Asset Management Limited, said:
“The oversubscription of Series 1 was a clear testament to the trust and confidence investors have in our expertise and ability to manage the FCMB-TLG Private Debt Fund. With Series 2, we are deepening our commitment to delivering consistent value through Private Debt investments that balance opportunity with prudence.
Institutional investors can expect the Series 2 Offer to build on the success of our maiden issuance and continue to provide a compelling opportunity to earn competitive risk-adjusted return on investment, while providing mid-sized companies with the much-needed capital required to scale their operations, thereby promoting Nigeria’s economic growth and development”.
Isha Doshi of TLG Capital Investments Limited also said, “The Series 2 Offer reflects the strengthening partnership between TLG Capital and FCMB Asset Management with a shared focus on building a robust local private credit ecosystem. Through this collaboration, we are helping to deepen the asset class, catalyse domestic capital, and support Nigerian businesses with long-term, well-structured financing that underpins sustainable growth”.
About FCMB Asset Management Limited
FCMB Asset Management Limited (FCMBAM), the asset management arm of FCMB Group Plc, has been in operation since 2000, providing portfolio management and investment advisory services to a broad base of individual and institutional clients.
With strong ratings from Agusto & Co. (A (IM)) and GCR Ratings (A-), FCMBAM is a market leader recognised for disciplined investment management, client alignment, and product innovation. The company is licensed by the Securities and Exchange Commission (SEC), Nigeria.
About FCMB Group
FCMB Group Plc is a leading financial services holding company with subsidiaries in retail and commercial banking, consumer finance, asset management, pensions management, trusteeship services, investment banking, and other financial services.
About TLG Capital Investments Limited (TLG Capital)
TLG Capital Investments Limited (TLG Capital) is a private, employee owned, and London based investment firm specialising in SubSaharan Africa since 2009. The TLG Group manages assets in excess of US$180 million across private credit and growth strategies and recently announced the launch of Africa Growth Impact Fund II (AGIF II) with a US$75 million first close anchored by IFC, Swedfund, Norfund and Bpifrance.
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