The Alternative Investments Division was established in 2012 following the integration of two legal entities under FBN Capital Limited;
First Funds Limited which was established in 2003 as a manager of private equity & venture capital funds on behalf of First Bank of Nigeria with the aim of providing risk capital to Small & Medium Scale Enterprises. Between 2004 and 2008, First Funds Limited deployed +N6 billion of the First Bank’s reserve set aside for the SMEEIS programme (an initiative of the Central Bank of Nigeria). From 2009 to date, First Funds Limited has made numerous proprietary investments in companies seeking growth capital for expansion with geographical focus on sub-Saharan Africa.
FBN Capital Partners Limited which was established in 2007 as the General Partner for two Private Equity Funds – First Real Estate Development (FRED) Fund and Industrial Development Fund (IDF Fund). From 2008 to date, FBN Capital Partners Limited has invested in numerous companies in the Real Estate, Hospitality, and ICT sectors with geographical focus on sub-Saharan Africa.