Nigeria: FCMB-TLG Capital private debt fund fully deployed, second series planned
Oversubscribed fund highlights rising demand for private credit in Nigeria.
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FCMB Asset Management (FCMBAM) and TLG Capital have announced the full deployment of the oversubscribed FCMB-TLG Private Debt Fund Series 1. The successful raise and deployment underscore accelerating demand for private debt as a scalable, risk-managed source of capital for Nigeria’s productive economy.
In response to investor demand and a strong pipeline, FCMBAM and TLG Capital are set to launch Series 2 of the FCMB-TLG Private Debt Fund. Series 2 will continue to provide senior secured financing to resilient mid-market businesses in essential sectors, maintaining the fund’s disciplined underwriting, covenant protection, and measurable impact framework. Further details will be announced subject to applicable regulatory approval from the Securities and Exchange Commission, Nigeria.
The fund targets competitive risk-adjusted returns alongside tangible development outcomes, with a focus on key sectors including healthcare, education, transport and logistics, and clean energy.
“We’re seeing stronger private credit opportunities in Nigeria now than at any point in the last fifteen years. Through Series 1, we have proven that the asset class is investable at scale, so local institutions can participate with confidence. Our partnership with FCMB Asset Management brings together their fiduciary strength with our Africa private credit expertise. This partnership is turbocharged by the UK Manufacturing Africa programme and McKinsey, who provide hands-on value creation for our portfolio companies. Through both capital investment and capacity building, we help leading Nigerian businesses to grow, make impact, and create jobs while delivering strong returns. For institutions with naira liabilities, this is the best way to invest,” said Isha Doshi, co-founder of TLG Capital.
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