FCMB Asset Management Limited has received regulatory approval for the FCMB-TLG Private Debt Fund Series II issuance of up to N20bn.
In a statement on Monday, it was indicated that the approval marked a significant milestone in the Fund’s growth strategy. Upon the receipt of regulatory approval, a formal signing ceremony was held in Lagos to execute the relevant transaction documents, signalling the imminent launch of the Fund’s Series II Issuance.
The PUNCH reports that the FCMB-TLG Private Debt Fund, launched in May 2024, is a 10-year, closed-ended fund registered with the Securities and Exchange Commission. It is managed by FCMB Asset Management with technical support from TLG Capital. The fund achieved an N10bn first series as part of an N100bn programme. It is Nigeria’s first naira-denominated private debt fund.
Speaking at the signing ceremony, Chief Executive Officer of FCMB Asset Management, James Ilori, stated, “The approval of the Fund’s Series II Issuance is a validation of the confidence the Securities and Exchange Commission has in our ability to successfully manage the Fund, deepen the private debt market, create value for our investors, and support investee companies. Our aim is to continue to support those sectors of the Nigerian economy that promote economic growth and development.”
The CEO further thanked the professional parties and the regulator for their various roles in ensuring the successful registration of the Fund’s Series II Issuance and assured them of the commitment of FCMBAM, together with its technical partner, TLG Capital Investments Limited, to ensure the success of the Series II Offer, which is expected to open in January 2026, subject to the relevant regulatory clearance.
Isha Doshi of TLG Capital Investments Limited also said, “This Series II approval 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.”
The statement added that, similar to the Fund’s Series I and building on its success, Series II has been designed to raise capital from qualified institutional investors as well as High Net Worth Individuals and deploy the same as corporate debt to mid-sized corporate organisations in sectors of the Nigerian economy that are aligned to the United Nations Sustainable Development Goals. Specifically, Series II will focus on supporting businesses in agriculture, clean energy, education, healthcare, IT/technology, and transport/logistics.
“In line with global best practices, Series II will integrate environmental, social, and governance principles into its investment strategy. This ensures that capital deployment not only delivers competitive risk-adjusted returns but also promotes responsible investing and long-term impact,” concluded the statement.
The FCMB Asset Management Limited, 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. TLG Capital Investments Limited is a private, employee‑owned, and London‑based investment firm specialising in Sub‑Saharan Africa since 2009. The TLG Group manages assets in excess of $180m across private credit and growth strategies and recently announced the launch of Africa Growth Impact Fund II with a $75m first close anchored by IFC, Swedfund, Norfund and Bpifrance.
