The oversubscribed FCMB–TLG Private Debt Fund Series 1 has been fully deployed, according to a statement from FCMB Asset Management Limited (FCMBAM) and TLG Capital.
Sixteen investors supported the first series, including prominent Pension Fund Administrators (PFAs), and five Nigerian businesses received funding.
Proceeds were directed into vital industries with pronounced social and economic multipliers: Agriculture: funding to increase exports for one of Nigeria’s biggest cocoa exportersHealthcare: assistance to strengthen local health security for one of Nigeria’s biggest manufacturers of medical supplies, such as facemasks and syringesAccording to a statement released over the weekend, FCMBAM and TLG Capital plan to introduce Series 2 of the FCMB–TLG Private Debt Fund in response to investor demand and a robust pipeline.
According to Daily Trust, private debt is discussed in private between the borrower (the corporation) and the lender (the private debt fund). This enables the borrower and lender to customize the loan or debt’s terms.
According to the statement, Series 2 will keep up the Fund’s demonstrable impact approach, covenant protection, and strict underwriting while continuing to offer senior secured financing to robust mid-market companies in critical industries.
Additional information will be released after receiving the necessary regulatory clearance from the Nigerian Securities and Exchange Commission.
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