Gray Ghost, a for-profit microfinance investment fund, announced recently that it has completed 3 large-scale secondary market deals in the last three months.
In September, Gray Ghost completed a transaction on behalf of Gray Matters Capital (pg 1-2), a sister organization. It bought 2305 shares in the Accion Investments in Microfinance Fund (AIM) for $3.8 million from the Inter-American Development Bank (IADB)’s Multilateral Investment Fund (MIF). This is the fund’s second investment in AIM, after its December 2003 purchase of $1,000,000 in equity to become the largest private investor in the fund. The MIF was established in 1993 by the IADB, an international bank owned by the governments of its 47 member countries. AIM was founded in 2003 with a market capitalization of $19.5 million.
Continue reading “US Gray Ghost Fund Continues Secondary Market Activity”
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