Duet launches $400M private equity fund focused on distressed Nigerian companies

Duet Private Equity has signed an exclusive agreement with the Asset Management Corporation of Nigeria (AMCON) to establish an investment fund focused on Nigeria’s fast-moving consumer goods (FMCG) sector.

Duet, a UK-headquartered €5.1 billion alternative asset manager, said the fund will focus on turnaround and distressed situations, where companies require additional capital and debt restructuring.

The new fund will launch with an initial target size of $400 million (€363 million) and its portfolio will consist exclusively of food and beverage companies with local brands. AMCON will contribute six portfolio companies currently under its control and the fund will invest an additional $200 million (€182 million) into these six companies.

Read more: Duet launches new PE fund focused on distressed Nigerian companies – Citywire