ABP invests US $ 30 million in Grassroots Capital’s Global Microfinance Equity Fund

Amsterdam / London – 1 April 2010 - ABP announced today that it has committed US $ 30 million to Grassroots Capital’s Global Microfinance Equity Fund (GMEF), a leading microfinance private equity fund. The fund closes at US $ 117.5 million. With the investment in Grassroots Capital, ABP’s microfinance program to invest in both microfinance debt and private equity amounts to US $ 215 million. ABP started investing in microfinance in 2005.

Jan van Roekel, senior portfolio manager at the asset manager of ABP: “This kind of investment is particularly suitable for a pension fund, as it aims to achieve double bottom line returns by investing capital in start-up and intermediate MFIs. Moreover, it will give some of the world’s economically most disadvantaged people the opportunity to improve their livelihoods. We believe that in most cases social and financial value creation through equity investment in microfinance requires continuous, on-the-ground engagement by operators who are knowledgeable in the local regulatory and capital market environments, and are familiar with the local microfinance industry. These qualities are provided by Grassroots Capital”.

Download press release (Pdf, 61Kb)