FSDH Capital Limited

What FSDH Capital Limited does

FSDH Capital Limited is a Nigeria-licensed investment banking, debt solutions, and securities trading firm headquartered in Lagos, with additional offices in Abuja and Port Harcourt. The company traces its origins to 1995 (incorporated as Counters Trust Securities Limited, later FSDH Securities Limited), and took its current form in 2019 when FSDH Merchant Bank's investment banking division was carved out and merged with FSDH Securities. It is a wholly-owned subsidiary of FSDH Holding Company Limited, the non-operating parent of the FSDH Group, which also encompasses FSDH Merchant Bank, FSDH Asset Management, and Pensions Alliance Limited.

FSDH Capital operates across three core business lines. Investment Banking covers M&A, financial advisory, equity capital markets (IPOs, rights issues, private placements), and debt capital markets including bond and Sukuk issuance. Debt Solutions delivers project finance, structured finance, acquisition finance, asset securitisation, and debt restructuring. Securities Trading provides equities and fixed income brokerage, market making, margin lending, and margin financing to institutional and retail clients on the Nigerian Exchange Limited (NGX) and FMDQ Securities Exchange. Supporting these are an in-house Research Hub producing daily market reports, sector reports, and macroeconomic research, and an E-Trading Platform (etrade.fsdhcapital.com). The firm holds three SEC licences — Broker/Dealer, Issuing House, and Portfolio Manager — and is a Dealing Member of both NGX and FMDQ.

The company generates revenue primarily through transaction-based fees (brokerage commissions, arrangement fees on commercial paper and bond programmes, underwriting fees) and professional services fees on advisory and capital markets mandates. Customer segments span large corporates (notably conglomerate, cement, food & beverage, healthcare, real estate, banking, and free-zone issuers), federal and state government institutions (notably the Debt Management Office for sovereign Eurobonds), and institutional investors including Pension Fund Administrators, insurance companies, fund managers, and HNIs/retail investors on the trading side. Pricing is engagement-based and not publicly disclosed. Distribution is relationship-led, executed through the Lagos, Abuja, and Port Harcourt offices and the firm's exchange memberships, supplemented by digital channels (website, LinkedIn, X, Facebook, Instagram) and a research-led content marketing programme.

Name

FSDH Capital Limited

Legal name

FSDH Capital Limited

Website

https://fsdhcapital.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

101–250 employees

Short description

FSDH Capital Limited is a Nigeria-licensed investment banking and securities trading firm offering investment banking advisory, debt solutions, and equities/fixed income brokerage to corporates, government institutions, and institutional investors across Nigeria, with offices in Lagos, Abuja, and Port Harcourt.

Ownership category

akta.pro rank

Product category

Investment Banking

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Finance Services (6199)

akta.pro primary industry

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

akta.pro secondary industry

Debt & Capital Advisory (Debt Raising, Refinancing, Private Credit) (BPAHAOAD)

Keywords

• Investment banking services
• Securities trading brokerage
• Debt capital markets
• Mergers and acquisitions
• Equity capital markets

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Securities Trading & Brokerage: Revenue generated from equities brokerage, margin lending, market making, and fixed income sales and trading. The company charges transaction fees and commissions on securities trades executed for clients including Pension Fund Administrators, foreign and local Fund Managers, Insurance Companies, HNIs, and Retail Investors.
2. Investment Banking Advisory: Fees earned from providing financial advisory services including Mergers & Acquisitions, Corporate Restructuring, Business Valuation, and Capital Markets advisory. Revenue is earned through engagement fees, success fees, and advisory retainers.
3. Debt Solutions & Capital Markets: Revenue generated from arranging project finance, structured finance solutions, debt restructuring, and issuance of debt securities (bonds and commercial papers). The company earns arrangement fees, underwriting fees, and structuring fees.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

FSDH Capital Limited provides investment banking, debt solutions, and securities trading services to corporate, institutional, and government clients in Nigeria. The firm arranges debt and equity capital markets transactions, mergers and acquisitions advisory, project and structured finance, and executes equities and fixed income trades as a Dealing Member of the Nigerian Exchange Limited and FMDQ Securities Exchange. It is licensed by the Securities and Exchange Commission as Broker/Dealer, Issuing House, and Portfolio Manager.

Product overview

FSDH Capital Limited operates as a licensed investment banking and securities trading firm providing a unified suite of financial services. The company offers three core service lines: Investment Banking (M&A, Financial Advisory, Capital Markets), Debt Solutions (Project Finance, Structured Finance, Debt Restructuring), and Securities Trading (Equities and Fixed Income). Research Services and an E-Trading Platform support these core offerings. The company serves corporations, financial institutions, and governmental institutions across Nigeria.

Differentiator

Problem solved

Functional benefit

Products and services

• Investment Banking Services Comprehensive investment banking services including Mergers and Acquisitions, Financial Advisory, and Capital Markets solutions such as IPOs, Rights Issues, Private Placements, and Debt Securities Issuance including Islamic Bonds (Sukuk). Designed for Nigerian corporates, financial institutions, and government entities.
• Debt Solutions Debt financing solutions involving structuring and arranging appropriate debt financing for businesses and projects, including Bankability and Project Risk Review, Debt Structuring and Arranging, Leverage and Structured Finance, Acquisition Finance, and Asset Securitization. Targeted at Nigerian corporates and institutions needing project and structured finance.
• Securities Trading Securities trading services including Equities Trading (brokerage, margin lending, market making, research) executed on the Nigerian Exchange Limited and Fixed Income Trading (sales, trading, financing, and market-making for instruments issued by Sovereigns, Sub-National, Supranational and Corporate Organisations) executed on FMDQ. For institutional investors, corporations, and high net-worth individuals.
• Research Services Daily market reports, sector reports, equity research notes, macroeconomic reports, and market data covering Nigeria and emerging markets. Supports institutional clients' investment decision-making across FSDH Capital's brokerage and advisory franchise.
• E-Trading Platform Online platform for customer login and trading services, accessible at etrade.fsdhcapital.com, enabling clients to execute trades and access trading-related services. For registered Nigerian brokerage clients.

Quantifiable outcome

• Advised Federal Government of Nigeria on US$2.87 Billion Eurobond offering that was three times oversubscribed with US$9.5bn in demand

Named customers15 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core.

• FSDH Group (FSDH Holding Company Limited)coreOthersFSDH Group consists of FSDH Holding Company Limited, a non-operating holding company focused on the provision of progressive financial services in Nigeria, and its subsidiaries including FSDH Capital, FSDH Merchant Bank, FSDH Asset Management and Pensions Alliance Limited (PAL). FSDH Capital is a subsidiary of FSDH Holding Company Limited.
• FSDH Merchant BankcoreOthersAffiliated company within FSDH Group offering a broad range of financial services within Nigeria to create long-term sustainable wealth. Related entity providing complementary financial services.
• FSDH Asset ManagementcoreOthersAffiliated company within FSDH Group providing stellar investment solutions tailored to suit the financial position and goals of their clients, and an array of special purpose schemes ranging from Treasury Bills funds to Eurobonds.
• Pensions Alliance Limited (PAL)coreOthersAffiliated company within FSDH Group. Part of the diversified financial services offering under the FSDH Group umbrella.
• Nigerian Exchange Limited (NGX)coreOthersFSDH Capital is a Dealing Member of the Nigerian Exchange Limited, enabling execution of equity securities trading and brokerage services on behalf of clients.
• FMDQ Securities Exchange LimitedcoreOthersFSDH Capital is a Dealing Member of FMDQ Securities Exchange Limited, enabling trading and market-making in fixed income securities including bonds and commercial papers.
• Securities and Exchange Commission (SEC)coreOthersFSDH Capital is licensed by SEC as Broker/Dealer, Issuing House, and Portfolio Manager. The regulatory relationship enables the company to operate legally in Nigeria's capital markets.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Cardinalstone Capital: Nigerian investment banking and asset management firm providing equity capital markets, debt capital markets, and securities trading. A directly comparable mid-tier Nigerian IB targeting the same corporate and institutional client base as FSDH Capital.
• ARM Securities: Part of the Asset & Resource Management (ARM) Group in Nigeria, providing securities trading, brokerage, and investment banking. Directly comparable as a Nigerian broker/dealer and arranger of fixed income and equity transactions.
• Vetiva Capital Management: Nigerian securities firm offering brokerage, asset management, and investment banking. Competes with FSDH Capital in equities brokerage, fixed income trading, and advisory mandates within the Nigerian capital markets.
• Coronation Capital: Nigerian investment banking group providing capital raising, advisory, and securities services. Operates in the same DCM and ECM ecosystem and competes for the same corporate and government mandates as FSDH Capital.
• Chapel Hill Denham: Leading Nigerian investment bank offering advisory, capital markets, and securities trading services. Directly comparable to FSDH Capital as a local full-service IB competing for the same corporate, government, and institutional mandates across Nigeria's DCM and ECM markets.
• Stanbic IBTC Capital: Nigerian investment banking arm of Standard Bank Group, providing securities trading, equity capital markets, debt capital markets, and advisory. Competes head-to-head with FSDH Capital on Nigerian corporate and sovereign issuance mandates.
• Quantum Zenith Capital: Nigerian investment bank providing capital markets, advisory, and securities trading services. Direct competitor for mid-market Nigerian corporate mandates and DCM arranging.

Emerging players

• Renaissance Capital: Emerging and frontier markets investment bank with strong African footprint. Competes with FSDH Capital on Nigerian Eurobond and cross-border issuance mandates, particularly the sovereign Eurobonds where FSDH has landmark experience.

Broad incumbents

• Ecobank Capital: Pan-African banking group's investment banking arm, providing capital markets, advisory, and securities services across West Africa including Nigeria. A broader incumbent competing with FSDH Capital for corporate and sovereign mandates in Nigeria.

Regional players

• Rand Merchant Bank (RMB Nigeria): FirstRand-owned African investment bank with Nigerian operations providing DCM, advisory, and trading services. Competes with FSDH Capital on larger Nigerian and pan-African mandates, particularly corporate finance and structured solutions.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/FSDHCapital
• Facebookfacebook.com/FSDHCapital
• LinkedInlinkedin.com/company/fsdh-capital
• Instagraminstagram.com/fsdh_capital

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FSDH Capital Limited