FSDH Merchant Bank, a financial services company, has been backed by AFIG Fund‘s Atlantic Coast Regional Fund. Financial terms of the deal remain undisclosed.
Based in Nigeria, FSDH offers the market a range of services including merchant, corporate and investment banking solutions as well as asset and pension fund management.
“We are pleased to become a shareholder in FSDH, a well-established financial services group in Nigeria with exciting growth prospects, and a long track record of strong performance,” Papa Madiaw Ndiaye, CEO of AFIG Funds said of the investment. “We look forward to working with the Bank’s management, the board of directors, and the other shareholders to support the Bank in achieving its ambitious objectives.”
Atlantic Coast Regional Fund or AFIG Fund I targets opportunities in East, Central and West Africa. The fund invests expansion capital in established, successful companies who are looking for growth capital.
Aluko & Oyabode provided AFIG Funds with legal advisory services on the deal.