FCMB Asset Mgt Raises N10bn Through Private Debt Fund

FCMB Asset Management (FCMBAM) Limited said it is raising N10 billion Private Debt Fund under Series one of its N100 billion Programme size.

The Company recently signed Nigeria’s first naira denominated private debt fund, the FCMB-TLG private debt fund.

The Fund, which has been approved by the Securities and Exchange Commission (SEC), 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.

Following the fulfilment of all regulatory requirements, the fund’s series 1 offer for subscription opens to Qualified Institutional Investors (QIIs) and High Networth Individuals (HNIs) yesterday, June 24, 2024, and closes on July 31, 2024

The Company said that “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 competitive risk-adjusted return on investment.

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“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.

At the signing ceremony, the chief executive officer of the Company,  James Ilori 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.”

The FCMB-TLG Private Debt Fund is structured as a closed-ended unit trust scheme with series 1 tenor of 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.