Nigeria's FCMB's Asset Management Launches $63 Million Private Credit Fund.

FCMB Asset Management, the asset management subsidiary of FCMB, plans to launch a $63 million private credit fund targeting mid-sized Nigerian companies.

Why it's important: In Nigeria, many mid-sized growth companies have well-structured operational models and clear paths to profitability. However, these companies struggle to access funds for expansion, as traditional bank loans are seen as expensive, leading founders to explore alternative funding opportunities instead of selling equity. These companies play critical roles in logistics, renewable energy, and healthcare sectors. Introducing a private credit fund will enable them to grow while offering investors a suitable return. The fund, developed in partnership with TLG Capital, is linked to Nigeria's local sovereign bond yield, with an additional 3%.

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