Ninety One’s EM private credit platform invests $10m in Colombian fintech Avista
Ninety One has made its first private credit investment in Colombia, with a $10m (£7.4m) investment through its emerging market private credit platform into fintech Avista.
Avista aims to extend “responsible” credit to the underbanked “silver economy”. It has originated more than $450m in payroll loans to date, and will use the proceeds from the international private securitisation to originate payroll loans for underserved pensioners throughout Colombia.
The investment brings Avista’s total funding to more than $400m.
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The Rohatyn Group (TRG) served as the administrative agent and arranger for the transaction, having structured Avista’s $15m international securitization in 2023.
TRG’s regionally-focused private credit teams aim to identify “local lending inefficiencies and credit under-penetration” in emerging markets to provide capital to mid-market companies across various sectors.
Ninety One’s emerging market credit platform, which has deployed $15bn, targets “underserved and uncrowded” markets.
The active global investment manager, which has $168.8bn in assets under management, and TRG conducted an “extensive evaluation” of Colombia’s payroll loan fintech market before selecting Avista for its technology and nationwide presence.
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“This investment reflects our conviction in Avista’s ability to scale sustainably, expand access to credit for Colombia’s underserved communities, and deliver strong, impact-driven returns to our investors,” said Melissa Ventura, director in emerging market alternative credit at Ninety One.
“We are proud to deepen our relationship with TRG and welcome Ninety One as a new partner. Their global reputation and investment expertise further reinforce Avista’s position as the most trusted fintech in Colombia among institutional investors,” added Martín Restrepo, co-founder and co-chief executive of Avista.
“TRG’s continued trust in Avista – beginning with our first private international securitization and now with this new international note – validates our strong track record and leadership in inclusive, impact-driven growth.”
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