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FCMB Asset Management Limited (FCMBAM) has officially opened the FCMB-TLG Private Debt Fund Series 2 Offer, targeting up to N20 billion, following the receipt of all necessary regulatory approvals. The offer, which launched on Monday, January 26, 2025, is aimed at Qualified Institutional Investors (QIIs) and High Net Worth Individuals (HNIs) seeking attractive risk-adjusted returns.
Like its predecessor, Series 2 will channel funds into the debt component of mid-sized companies with commercially viable and impact-oriented operations across sectors aligned with the United Nations Sustainable Development Goals (SDGs). The Fund’s focus spans Agriculture, Clean Energy, Education, Healthcare, IT/Technology, and Transport/Logistics, offering investors the dual advantage of supporting economic growth while earning competitive returns.
The FCMB-TLG Private Debt Fund is Nigeria’s first Naira-denominated private debt fund, with a programme size of N100 billion approved by the Securities and Exchange Commission (SEC) in 2024. Its Series 1, which closed in September 2024, drew significant attention, oversubscribing by 4.3% with a total of N10.43 billion raised from five investor categories, including leading Pension Fund Administrators (PFAs). Despite macroeconomic headwinds, Series 1 delivered positive real and competitive risk-adjusted returns in 2025, distributing proceeds to unitholders in April and November of the same year, reaffirming private debt’s appeal as a resilient income-generating asset class.
Commenting on the launch of Series 2, James Ilori, CEO of FCMBAM, 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 returns, 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 added:
“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.”
Series 2 is expected to build on the success of the inaugural issuance, reinforcing private debt as a strategic and impact-driven investment avenue, while channeling much-needed capital into Nigeria’s mid-sized enterprises to drive economic expansion and development.
