FCMB Asset Management Limited (FCMBAM) has announced plans to open the FCMB–TLG Private Debt Fund Series 2, targeting up to N20 billion from investors, following the receipt of all required regulatory approvals.
The new offer builds on the strong performance of the Fund’s maiden series and reflects FCMBAM’s strategy of providing Qualified Institutional Investors (QIIs) and High Networth Individuals (HNIs) with access to structured and diversified private debt investment opportunities.
The FCMB–TLG Private Debt Fund is Nigeria’s first naira-denominated private debt fund, with a total programme size of N100 billion approved by the Securities and Exchange Commission (SEC) in 2024. Series 1 of the Fund, which closed in 2024, attracted strong investor appetite, recording a 4.3 per cent oversubscription. The initial N10 billion offer raised N10.43 billion from five investor categories, including leading Pension Fund Administrators (PFAs).
According to FCMBAM, Series 1 delivered positive real and competitive risk-adjusted returns in 2025 and paid distributions to unitholders in April and November of the year, despite prevailing macroeconomic challenges. The performance, the firm noted, underscores the growing relevance of private debt as a resilient income-generating asset class capable of providing a hedge against inflation.
In a statement, the company disclosed that the Series 2 offer is scheduled to open on Monday, January 26, 2026, and will be available to QIIs and HNIs for subscription for a period in line with regulatory approvals.
FCMB Asset Management, as Fund Manager, said it worked closely with key stakeholders in structuring the new series. 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; as well as other professional advisers.
The firm explained that, similar to Series 1, the new fund will focus on investing in the debt portion of the capital structure of mid-sized Nigerian companies with commercially viable and impact-driven operations. Target sectors are those aligned with the United Nations Sustainable Development Goals (SDGs), offering investors the prospect of competitive, risk-adjusted returns.
FCMBAM added that Series 2 is expected to support businesses operating in agriculture, clean energy, education, healthcare, information technology and transport and logistics.
The company said it would continue to rely on its disciplined investment process, robust credit evaluation methods and rigorous due diligence framework to identify creditworthy mid-sized corporates with strong operating fundamentals.
According to the statement, the Series 2 fund has been designed to generate periodic income for investors, deliver competitive risk-adjusted returns, support Nigeria’s real economy and provide much-needed debt capital to help scale mid-sized enterprises, while contributing to the attainment of the United Nations Sustainable Development Goals.
