FCMB-TLG Private Debt Fund Series 1 Opens, To Raise N10bn

FCMB Asset Management Ltd. (FCMBAM) has opened the FCMB-TLG Private Debt Fund’s Series 1 Offer for subscription, to raise N10 billion of its N100 billion programme size.
The fund is opened for subscription to Qualified Institutional Investors (QIIs) and High Networth Individuals (HNIs), effective Monday, June 24 to July 31.
The company’s chief executive officer(CEO), Mr James Ilori, said this in a statement made available in Lagos.
Ilori stated that the fund, which is Nigeria’s first Naira-denominated private debt fund, had been approved by the Securities and Exchange Commission(SEC) following the fulfilment of all regulatory requirements.
He explained that the fund is sponsored and managed by FCMBAM as the fund manager, with technical support from TLG Capital Investments Ltd.(TLG Capital) in the United Kingdom.
“The FCMB-TLG Private Debt Fund will focus on investing in 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 a competitive risk-adjusted return on investment.
“It will invest in the debt components of the capital structure of organisations and Special Purpose Vehicles (SPVs) in sectors crucial to Nigeria’s economic growth and development.
“This includes agriculture, healthcare, education, clean energy, transportation/logistics, and it/technology.”
According to him, the FCMB-TLG Private Debt Fund opens a new avenue for professional investors to participate in the growth of key sectors of the Nigerian economy.
Ilori noted that it also provides essential capital to organisations driving sustainable economic growth and development in Nigeria.
He stated that the Fund is structured as a Closed-Ended Unit Trust Scheme with Series 1 tenor of 10 years.
According to the CEO, the Fund is also expected to provide investors with periodic streams of income through regular payment of distribution, while prioritising the preservation of invested capital.
FCMBAM is the asset management arm of FCMB Group Plc, incorporated in 1997, to provide portfolio management and investment advisory services to individual and institutional clients globally.
It has over N322 billion in assets under management.