FCMB Asset Management Limited has announced plans to open the FCMB-TLG Private Debt Fund Series 2 Offer of up to Twenty Billion Naira (N20 billion) for investment, following the receipt of all required regulatory approvals. The announcement confirms that the offer will be available to Qualified Institutional Investors (QIIs) and High Networth Individuals (HNIs), continuing the firm’s private debt investment programme in Nigeria.
The FCMB-TLG Private Debt Fund Series 2 builds on the performance of Series 1, which attracted strong investor participation. According to the Fund Manager, the initiative reflects an ongoing effort to provide structured and diversified private debt investment opportunities to professional investors in the Nigerian market.
The FCMB-TLG Private Debt Fund is Nigeria’s first Naira denominated Private Debt Fund, with a total programme size of One Hundred Billion Naira (N100 billion) approved by the Securities and Exchange Commission in 2024. Series 1 of the Fund closed in 2024 with a N10 billion offer that recorded a 4.3 percent oversubscription. A total of N10.43 billion was raised from five investor categories, including leading Pension Fund Administrators (PFAs).
In 2025, Series 1 delivered positive real and competitive risk adjusted returns and paid distributions to unit holders in April and November 2025. This performance was achieved despite wider macroeconomic headwinds. The Fund Manager said the outcome reaffirmed the relevance of private debt as a resilient income generating asset class that can offer protection against inflation.
For Series 2, FCMB Asset Management Limited worked with several partners to design the offer. These include its technical partner, TLG Capital Investments Limited, the lead issuing house, FCMB Capital Markets, joint issuing houses Stanbic IBTC Capital and Coronation Merchant Bank, alongside other professional advisers. The Fund is targeted at QIIs and HNIs and will focus on the debt portion of the capital structure of mid sized companies with commercially viable and impact oriented operations.
The Series will invest in sectors aligned with the United Nations Sustainable Development Goals (SDG). These sectors include Agriculture, Clean Energy, Education, Healthcare, IT and Technology, as well as Transport and Logistics, with the aim of delivering competitive risk adjusted returns while supporting economic development.
FCMB Asset Management Limited stated that it will continue to apply its disciplined investment process, deep credit evaluation techniques, and rigorous due diligence framework to identify credit worthy mid sized corporate organisations with strong operating fundamentals.
According to the Fund Manager, Series 2 is designed to generate periodic income, offer competitive risk adjusted returns, support Nigeria’s real economy, provide suitable debt capital for business expansion, and contribute to the attainment of the UN SDGs. The offer is scheduled to open on Monday, January 26, 2026, and will remain open for subscription for a period approved by regulators.
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