Press Release: TLG Credit Opportunities Fund
Award-winning investment manager TLG Capital is launching a new fund in January 2016, the TLG Credit Opportunities Fund (COF). This will be TLG’s second investment vehicle. TLG Africa, the permanent capital vehicle of TLG Capital, has committed over US$15M to seed the new fund.
AfrAsia Bank has issued a US$7.5M debt facility to TLG Africa. As experienced investors in African growth Small-Medium Enterprises (SMEs), TLG has successfully structured and invested in private credit deals which have produced equity-like returns while benefitting from the self-liquidating nature of debt. TLG’s investments have included credit enhanced products such as bank or multilateral guarantees.
TLG Africa’s experience of successfully executing and exiting several private credit enhanced investments into SMEs will no doubt benefit its inaugural fund, an appealing benefit to the new fund’s private and institutional investors. The COF seeks to achieve enhanced risk adjusted returns, annual distributions and clear liquidity options through an annual gated capital redemption policy. It will supply critical financing to corporates across the region.
Over the course of the year, TLG Capital has added two investment professionals and one additional advisory board member. David Webb, formerly at Goldman Sachs and Managing Director at TSU Capital, will focus on deal origination, special situations investments and fund marketing. Zhiyong Heng, formerly at DL Partners and Goldman Sachs, will focus on credit arbitrage and special situations investments. Nicholas Hofgren, former EMEA head of JP Morgan Private Funds Group, has joined the TLG Advisory Board of Directors. He is guiding fund raising and heading up an expanded Environmental and Social Responsibility (ESR) function on the TLG Investment Committee.
