MicroVest GMG Capital Management (MVG), a partnership between MicroVest Capital Management (MicroVest), a US-based private microfinance investment firm, and GMG Investment Advisors (GMG), an emerging markets credit asset management firm, recently took over the investment management of Minlam Microfinance Fund, a local-currency debt fund, from US-based investment manager Minlam Asset Management.
As of 2012, the Minlam Microfinance Fund reports assets of USD 47 million disbursed as local-currency debt capital to 53 microfinance institutions (MFIs) in approximately 31 countries.
MicroVest and GMG manage a combined total of USD 240 million as of 2012. Financial information for Minlam Asset Management, which focuses on financial institutions serving small businesses, microenterprises and low-income clients, is unavailable.
By Charlotte Newman, Research Associate
About Minlam Microfinance Fund
The Minlam Microfinance Fund was created by Minlam Asset Management LLC and is currently managed by MicroVest GMG Capital Management. The fund provides long-term local currency financing to microfinance institutions (MFIs). The fund targets MFIs that have a loan portfolio of at least USD 2.5 million, that are operationally self-sufficient, and have a portfolio at risk less than 5 percent. The loans provided by the fund range from USD 500,000 to USD 5 million and are provided at a rate competitive with the local market. As of 2012, the Minlam Microfinance Fund reports assets of USD 47 million and has disbursed local-currency debt capital to 53 microfinance institutions (MFIs) in approximately 31 countries.
About MicroVest Capital Management
Launched in 2004 with USD 15 million, MicroVest is a family of funds that invest in microfinance institutions (MFIs) in emerging markets. MicroVest is headquartered in Washington, DC, and was founded by CARE, MEDA and the Seed Capital Development Fund.
Sources and Additional Resources:
MicroVest Press Release: “MicroVest GMG Capital Management Acquires Investment Management of Minlam Microfinance Fund,” http://www.microvestfund.com/news/MVGMG%20Acquires%20Minlam.pdf
MicroCapital.org story, February 29, 2012, “MICROCAPITAL BRIEF: Rural Impulse Fund II, MicroVest II, ASN-Novib Fund Purchase 45% Stake in Arnur Credit Microfinance Institution of Kazakhstan,” https://www.microcapital.org/microcapital-brief-rural-impulse-fund-ii-microvest-ii-asn-novib-fund-purchase-45-stake-in-arnur-credit-microfinance-institution-of-kazakhstan/
MicroCapital.org story, January 4, 2010, “KNOW A MICROFINANCE FUND: PlaNet MicroFund, OXUS Holding, NAMFEX, Minlam Microfinance Fund,” https://www.microcapital.org/know-a-microfinance-fund-planet-microfund-oxus-holding-namfex-minlam-microfinance-fund/
MicroCapital Universe Profile: Minlam Microfinance Fund http://microcapital.org/microfinanceuniverse/tiki-index.php?page=Minlam+Microfinance+Fund
MicroCapital Universe Profile: MicroVest Capital Management http://microcapital.org/microfinanceuniverse/tiki-index.php?page=MicroVest+Capital+Management
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