Creation Investments closes emerging markets impact credit fund
Creation Investments Capital Management has announced the final close of its impact credit fund, raising more than $46m (£34.2m) in commitments to fund organisations that work with under-served populations in emerging markets.
The Impact Credit Fund II received investments from both legacy and new investors globally, including pension funds, private credit fund-of-funds, foundations and family offices, the Chicago-based private markets manager said.
According to Creation Investments, the fund raised nearly double the amount of its predecessor credit fund, which closed at $25m.
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“We are pleased with the strong investor support for Credit Fund II and the continued validation of our private credit strategy, which has performed well in line with expectations given our active involvement and strong risk management,” said Patrick Fisher, founder and managing partner of Creation Investments. “This fund enables us to reach millions of additional clients, mainly women and entrepreneurial households, with essential capital to build a single-family home or support small business activity.”
The Credit Fund II focuses on providing senior, secured loan facilities directly to investment-grade rated institutions that are exclusively focused on underserved populations in emerging markets, with a current focus on India.
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According to the manager, the close of Credit Fund II brings Creation Investments’ total private credit assets under management to more than $70m. In total, the manager has $1.7bn of assets under management.
To date, the Credit Fund II has invested in eight companies in India, which provide access to credit for micro and small businesses, affordable housing, electric vehicles, and smallholder farms and agriculture in peri-urban and rural areas.
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