FCMB Asset Management secures approval for ₦20bn private debt fund series II
FCMB Asset Management Limited (FCMBAM) has received regulatory approval for the Series II Issuance of its FCMB-TLG Private Debt Fund, paving the way for the launch of up to ₦20 billion in fresh capital aimed at supporting Nigeria’s mid-sized corporates.
Following the approval, FCMBAM held a formal signing ceremony in Lagos to execute the transaction documents, signalling the imminent rollout of the Series II offer.
Building on the success of the Fund’s Series I, the Series II Issuance is structured to attract investments from Qualified Institutional Investors (QIIs) and High Net Worth Individuals (HNIs).
Proceeds from the fund will be deployed as corporate debt to mid-sized businesses operating in key sectors of the Nigerian economy aligned with the United Nations Sustainable Development Goals (SDGs).
According to the fund manager, targeted sectors include agriculture, clean energy, education, healthcare, information technology, and transport and logistics, reflecting areas considered critical to inclusive growth and long-term development.
In line with global best practices, the Series II fund will also incorporate Environmental, Social and Governance (ESG) principles into its investment framework, ensuring that returns are balanced with responsible capital allocation and sustainable impact.
Speaking at the signing ceremony, James Ilori, Chief Executive Officer of FCMB Asset Management, described the regulatory approval as a strong endorsement of the firm’s capabilities.
“The approval of the Fund’s Series II Issuance is a validation of the confidence the Securities and Exchange Commission has in our ability to successfully manage the Fund, deepen the private debt market, create value for our investors, and support investee companies,” Ilori said.
He added that FCMBAM remains focused on financing sectors that drive economic growth and development.
Ilori also acknowledged the contributions of regulators and professional advisers to the successful registration of the fund, noting that FCMBAM and its technical partner, TLG Capital Investments Limited, are committed to ensuring a successful Series II offer. The fund is expected to open to investors in January 2026, subject to final regulatory clearance.
Also speaking, Isha Doshi of TLG Capital Investments Limited said the approval reflects the growing partnership between both institutions.
“This Series II approval reflects the strengthening partnership between TLG Capital and FCMB Asset Management with a shared focus on building a robust local private credit ecosystem,” Doshi said.
“Through this collaboration, we are helping to deepen the asset class, mobilise domestic capital, and support Nigerian businesses with long-term, well-structured financing that underpins sustainable growth.”
The Series II Issuance is expected to further deepen Nigeria’s private debt market and expand access to alternative financing for growth-oriented businesses.