Recently, FCMB Asset Management Limited (FCMBAM) held a signing ceremony for 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, 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. The Fund seeks to raise Ten
Billion Naira (N10 billion) under Series 1 of its One Hundred Billion Naira
(N100 billion) Programme size.
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) today, Monday 24 June 2024, and closes on Wednesday
31 July 2024.
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. 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 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”.
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.
FCMB Asset Management Limited (FCMBAM) is the asset
management arm of FCMB Group Plc. Incorporated in 1997, the company provides
portfolio management and investment advisory services to individual and
institutional clients, globally.
FCMBAM is rated A- (IM) by Agusto & Co. and A- by GCR.
The company is one of Nigeria’s leading Asset Management companies and has over
Three Hundred and Twenty-Two Billion Naira (N322 billion) in Assets Under
Management. FCMBAM has established itself as an innovative and competent Fund
Manager that periodically develops investment management solutions to deliver
competitive risk-adjusted returns to investors.