FCMB Asset Management Limited (FCMBAM) and TLG Capital have announced plans to launch Series 2 of the FCMB–TLG Private Debt Fund, following the successful deployment of the oversubscribed Series 1.
Series 1 attracted 16 investors, including top Pension Fund Administrators (PFAs), and provided financing to five Nigerian companies across essential sectors. Proceeds were channeled into projects with clear economic and social impact.
- Agriculture: Funding for one of Nigeria’s largest cocoa exporters to scale exports.
- Healthcare: Financing for a leading producer of medical consumables—including syringes and facemasks—to strengthen Nigeria’s local health security.
A joint statement issued over the weekend confirmed that Series 2 is being launched in response to strong investor demand and a growing pipeline of opportunities.
The new fund will continue to provide senior secured financing to mid-market businesses in critical sectors while maintaining strict underwriting standards, covenant protections, and measurable impact frameworks.
Further details will be disclosed following approval from the Securities and Exchange Commission (SEC), Nigeria.
According to FCMBAM, the fund aims to deliver competitive risk-adjusted returns while advancing tangible development outcomes in sectors including healthcare, education, transport and logistics, and clean energy.
“Providing alternative access to suitable capital by mid-sized companies in sectors that align with the United Nations Sustainable Development Goals and delivering competitive risk-adjusted return on investment to investors are the key objectives of the FCMB-TLG Private Debt Fund.
The Fund successfully met these objectives under Series 1, contributing meaningfully to Nigeria’s economic growth and development,” said James Ilori, Chief Executive Officer of FCMB Asset Management Limited.
He added that the initiative reflects FCMB’s broader mission: fostering inclusive and sustainable growth in the communities it serves.
Isha Doshi, Co-Founder of TLG Capital, noted that investor appetite is surging:
“We’re seeing stronger private credit opportunities in Nigeria now than at any point in the last fifteen years. Through Series 1, we have proven that the asset class is investable at scale so that local institutions can participate with confidence. Our partnership with FCMB Asset Management brings together their fiduciary strength with our Africa Private Credit expertise.”
The fund underscores the rising role of private debt in Nigeria’s financial markets, providing tailored financing options outside traditional banking structures.