FCMB-TLG private debt fund gets SEC’s Nod for N20bn Series II Offer

FCMB Asset Management Limited (FCMBAM) has received regulatory approval from the Securities and Exchange Commission (SEC) to proceed with the Series II Issuance of the FCMB-TLG Private Debt Fund, valued at up to N20 billion, in a move aimed at deepening Nigeria’s private credit market.

The approval marks a major milestone in the Fund’s expansion strategy and was followed by a formal signing ceremony in Lagos, where transaction documents were executed, signalling preparations for the imminent launch of the Series II Offer.

Building on the success of the Fund’s maiden issuance, Series II is structured to attract investments from Qualified Institutional Investors (QIIs) and High Net Worth Individuals (HNIs). Proceeds from the issuance will be deployed as structured corporate debt financing to mid-sized Nigerian companies operating in key growth sectors aligned with the United Nations Sustainable Development Goals (SDGs).

Targeted sectors include agriculture, clean energy, education, healthcare, information technology, and transport and logistics, which are considered critical to Nigeria’s long-term economic development.

The new issuance will also embed Environmental, Social and Governance (ESG) considerations into its investment framework, ensuring that capital deployment supports responsible business practices while delivering competitive risk-adjusted returns to investors.

Speaking at the signing ceremony, James Ilori, Chief Executive Officer of FCMB Asset Management, said the approval reflects the regulator’s confidence in the firm’s fund management capabilities.

“The approval of the Fund’s Series II Issuance validates the confidence reposed in us by the Securities and Exchange Commission to deepen the private debt market, create value for our investors and support businesses that drive economic growth and development,” Ilori said.

Also commenting, Isha Doshi of TLG Capital Investments Limited described the approval as a testament to the growing partnership between both firms.

“This Series II approval reflects the strengthening collaboration between TLG Capital and FCMB Asset Management to build a resilient local private credit ecosystem. Through this partnership, we are catalysing domestic capital and providing Nigerian businesses with long-term, well-structured financing that supports sustainable growth,” Doshi said.

FCMB Asset Management Limited, the asset management subsidiary of FCMB Group Plc, has been in operation since 2000, offering portfolio management and investment advisory services to individual and institutional clients. The firm holds strong investment management ratings from Agusto & Co. and GCR Ratings and is licensed by the SEC.

TLG Capital Investments Limited is a London-based, employee-owned investment firm focused on Sub-Saharan Africa. Since 2009, the firm has managed over US$180 million across private credit and growth strategies and recently launched Africa Growth Impact Fund II, which recorded a US$75 million first close backed by leading development finance institutions.

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