Symbiotics, a Switzerland-based investor, recently announced that Pensioenfonds Detailhandel, an administrator of pensions for Dutch retail workers, has selected the firm to manage a private debt fund with a volume of EUR 100 million (USD 105 million) with the aim of enabling progress toward the UN Sustainable Development Goals (SDGs). The portfolio will focus on investing local currency to support micro-, small and medium-sized enterprises (MSMEs), particularly those that increase access to education, healthcare, and climate mitigation and adaptation.
Founded in 2004, Symbiotics provides for-profit investment intermediary and business services to investors in and practitioners of MSME development as well as lenders to low- and middle-income households. During 2020, the company issued new investments totaling USD 991 million, resulting in a direct portfolio of USD 2.4 billion invested in 291 financial institutions across 75 countries. The firm also performs compliance checks, credit risk ratings, social responsibility ratings, and financial and operational advisory reporting.
Founded in 1972, Pensioenfonds Detailhandel has 1.3 million clients and manages total assets valued at EUR 37 billion (USD 39 billion) as of 2022. This portfolio largely consists of government bonds, corporate bonds, stocks, real estate and mortgages. The company’s three major goals are: (1) keeping investment costs low and diversifying risk; (2) contributing to a better environment; and (3) minimizing the risks associated with environmental, social and governance issues.
By Vighnesh Avadhanam, Research Associate
Sources and Additional Resources
Symbiotics Group press release
https://symbioticsgroup.com/news/symbiotics-to-manage-an-impact-private-debt-mandate-for-pensioenfonds-detailhandel/
Symbiotics Group financial statements
https://symbioticsgroup.com/publications/
Pensioenfonds Detailhandel webpage
https://pensioenfondsdetailhandel.nl/
UN Sustainable Development Goals description
https://www.un.org/sustainabledevelopment/
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