FCMB, TLG open Series 1 Private Debt Fund for investment

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First City Monument Bank Asset Management Limited in collaboration with TLG Capital Investment Limited, United Kingdom (FCMB-TLG) has opened the first series of their Private Debt Fund for investment.

According to FCMB-TLG, the Fund seeks to raise N10 billion under series 1 of its N100 billion programme size and the offer for subscription to Qualified Institutional Investors (QIIs) and High Networth Individuals (HNIs) would run through  June 24th to July 31st,  2024.

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The Fund which  was  approved by the Securities and Exchange Commission is sponsored and managed by FCMB Asset Management Limited (FCMBAM) as the Fund Manager, with technical support from TLG Capital Investments Limited (TLG Capital), United Kingdom.

Speaking at the signing ceremony organised by FCMBAM, James Ilori, the company’s Chief Executive Officer said, “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 while providing essential capital to organisations driving sustainable economic growth and development in Nigeria”.

He noted that the FCMB-TLG Private Debt Fund would 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 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, including Agriculture, Healthcare, Education, Clean Energy, Transportation/Logistics, and IT/Technology”, he added.

According to FCMBAM, “The FCMB-TLG Private Debt Fund is structured as a Closed-Ended Unit Trust Scheme with Series 1 tenor of Ten (10) years.

“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”, it said.

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