Press Release – Bethesda, MD, October 30, 2018 – MicroVest, a global impact investing asset management firm with $368 AUM, today announced the closing of a $20 million, 5-year revolving credit facility with MetLife Investment Management to provide a redemption line to their flagship impact investment fund. The credit facility will serve as a secondary source of liquidity for Limited Partners. The partnership will enable both organizations to increase their commitment to deep impact through financial inclusion. This investment represents MetLife Investment Management’s largest community investment to date.
The credit line enables MicroVest to better manage liquidity of the fund to deploy more capital, more quickly, to the places that need it the most. Per MicroVest’s stated mission, these are often microfinance institutions in emerging and frontier markets that have few other means of accessing capital to promote financial inclusion within their markets.
“Having this facility, and this partnership, with such a well-regarded financial inclusion leader, will hopefully prove catalytic as we seek to grow MicroVest’s lending footprint across emerging markets, providing appropriately priced capital to financial institutions serving the underbanked,” said Gil Crawford, CEO of MicroVest. “Our rigorous and time-tested due diligence process and 15-year track record of extending financial inclusion to underserved markets fits perfectly with MetLife Investment Management’s commitment to the space. This partnership will spur deep impact designed to transform the financial future for so many across the globe.”
Matt Sheedy, Director of Responsible Investment Strategies at MetLife Investment Management, said, “Expanding financial inclusion is one of MetLife’s highest priorities, so we’re pleased to be able to support MicroVest with financing that will accelerate the growth of their investment fund and enable more capital flow to high-impact microfinance institutions globally.”
About MicroVest Capital Management, LLC
MicroVest Capital Management is a SEC-registered asset management firm offering global impact investment opportunities for over 15 years. MicroVest promotes financial inclusion by investing in responsible financial institutions that serve underbanked people and businesses. Since 2003, MicroVest has demonstrated that investing in its funds is purposeful and profitable. The firm has disbursed over $1 billion to more than 200 financial institutions in over 60 countries. As of June 2018, MicroVest manages $368 million across all its funds.