TLG Capital has invested in Iroko Financial Products, a UK based fixed income boutique focusing on the sub-Saharan African region.
Iroko’s structured transactions have totalled over USD1.3bn since 2005.
Among the transactions executed by the company since its inception in 2002 is a landmark USD200m corporate bond for Ghana Telecom, the first corporate bond issuance from Ghana.
Current shareholders in Iroko include the Dutch FMO, Liquid Africa and the company’s management team.
Companies that operate under the Iroko umbrella include Iroko Securities and Sphynx Capital Markets. Iroko Securities specialises in debt capital markets and treasury management services for clients in sub-Saharan Africa. As sponsor for Sphynx, Iroko Securities supports the company’s issuance programme by sourcing potential transactions, arranging for credit support and hedging for assets funded by the programme.
Zain Latif, principal of TLG Capital, says: "The reputation and experience of Iroko is well known in the financial world, both within the African continent and in the Western markets. They provide an important link for many international investors looking to gain exposure in Africa and are one of the few dedicated boutiques focused on the region. We believe that there are synergies in working with Iroko Financial Products in leveraging their excellent platform allowing us to scale up our private equity operations with an experienced outfit that can open up origination in Francophone Africa."
Francois Ekam-Dick, Iroko’s managing director and founder, adds: "We see major benefits from combining Iroko’s knowledge of market practices in the region and TLG’s proven investment track record. We see their presence as a major catalyst to attract much-needed funds in the region and as a tremendous way to enhance our distribution capabilities. Together we will be well positioned to provide our clients with a broad and diverse service offering, and we are confident it will prove to be significantly beneficial for both firms."
