MICROCAPITAL BRIEF: SNS Asset Management of Netherlands Launches SNS Impact Investing with $400m Managed for Microfinance, Agriculture, Water

SNS Asset Management (SNS AM), a Dutch fund manager, has announced the launch of its impact investing unit, SNS Impact Investing, which will focus on investments in microfinance, sustainable agriculture and water. The new unit will consist of a team of ten people, headed by Harry Hummels, who serves as a board member of SNS AM, and Theo Brouwers, who is a director of SNS AM.

Mr Hummels stated that the investing unit will start with USD 400 million to USD 500 million assets under management with plans to grow to USD 650 million to USD 750 million at the end of 2011 and to USD 1 billion by 2014. He also stated that the target will be to achieve market rate returns along with the intended social and environmental returns on investments.

SNS currently partners with Developing World Markets (DWM) and Triple Jump, two fund managers focusing on microfinance. In addition, Mr Hummels said that SNS was looking for opportunities to partner with sustainable agriculture funds outside Africa, sustainable energy funds and a third microfinance fund.

As of 2009, SNS Asset Management manages EUR 28 billion (USD 39 billion).

By Medha Ravi, Research Associate

About SNS Asset Management:
Based in the Netherlands and founded in 1997, SNS Asset Management is the asset management unit of SNS REAAL, a retail banking and insurance provider. SNS Asset Management was formed following a merger between De Hollandse Koopmansbank and SNS Bank. SNS Asset Management manages two funds, SNS Institutional Microfinance Fund and SNS Institutional Microfinance Fund II, both aiming to alleviate poverty by providing capital to microfinance institutions (MFIs) around the world. As of 2009, SNS Asset Management manages total assets of EUR 28 billion (USD 39 million).

About SNS Impact Investing:
Launched in 2011 and based in the Netherlands, SNS Impact Investing is the impact investing unit of Dutch fund manager SNS Asset Management (SNS AM). As of its launch., the unit consists of a team of ten people headed by Harry Hummels, who serves as a board member of SNS AM, and Theo Brouwers, who is a director of SNS AM. As of 2010, SNS Impact Investing has assets under management of approximately USD 650 million-USD 750 million.

About Developing World Markets:
Developing World Markets (DWM) is a US-based asset manager and investment bank dedicated to making socially beneficial investments to promote sustainable economic development. It provides both debt and equity investments to microfinance institutions (MFIs) and other socially motivated organizations. As of 2010, DWM has USD 600 million assets under management and has invested in approximately 100 MFIs in approximately 30 countries.

About Triple Jump:
Triple Jump was founded in 2006 to support the expansion of microfinance institutions (MFIs) in various stages of development by providing capital and advisory services. As of December 2009, Triple Jump manages five microfinance investment funds, worth a total of approximately USD 250 million. Its investments span 132 MFIs in 53 emerging markets in Latin America, Eastern Europe, Africa and Asia. Triple Jump was established by the NOTS Foundation, a Dutch development organization; Oxfam Novib, a Dutch organization for international cooperation and development; and ASN Bank, a ?sustainability-driven? Dutch bank. Its shares are divided among these organizations and Triple Jump?s management team. Triple Jump is comprised of Triple Jump Fund Management (TJFM) and Triple Jump Advisory Services (TJAS). TJFM provides its clients with four investment options: hard and local currency loans, equity, guarantees and subordinated loans. TJAS is an independent foundation that provides consulting services and technical assistance to tier-3 and tier-4 MFIs.

Source and Resources:

Responsible Investor Article: “SNS Asset Management among first houses to launch dedicated impact investing unit”, http://www.responsible-investor.com/home/article/sns/

MicroCapital.org story, February 3, 2011, “Mission Markets Announces First Microfinance Investment on Its Impact Investment Platform”, https://www.microcapital.org/microcapital-brief-mission-markets-announces-first-microfinance-investment-on-its-impact-investment-platform/

MicroCapital.org story, April 29, 2010, “MICROCAPITAL BRIEF: Global Impact Investing Network (GIIN) Projects Impact Investments to Reach $500b by 2014”, https://www.microcapital.org/microcapital-brief-global-impact-investing-network-giin-projects-impact-investments-to-reach-500b-by-2014/

MicroCapital.org story, March 3, 2009, “MICROCAPITAL STORY: Huge Global Pensions Back Break-Out Private Equity Fund: TIAA-CREF, APG, DWM and SNS REAAL Contribute $82 million to Developing World Markets Microfinance Equity Fund I”, https://www.microcapital.org/microcapital-story-huge-global-pensions-back-break-out-private-equity-fund-tiaa-cref-apg-dwm-and-sns-reaal-contribute-82-million-to-developing-world-markets-microfinance-equity-fund-i/

MicroCapital’s Microfinance Universe Profile: SNS Asset Management, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=SNS+Asset+Management

MicroCapital’s Microfinance Universe Profile: SNS Impact Investing, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=SNS+Impact+Investing

MicroCapital’s Microfinance Universe Profile: Developing World Markets (DWM), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Developing+World+Markets+(DWM)

MicroCapital’s Microfinance Universe Profile: Triple Jump,?https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Triple+Jump

Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/

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