Avendus Capital, a wealth management company in India, recently announced that it has invested INR 369 million (approximately USD 8.25 million) in securities backed by microfinance loans.
The loans were dispersed by Satin Credit Care, Sahayata Microfinance and Asirvad, all microfinance institutions (MFIs) based in India. The deal was structured by Chennai-based non-banking finance corporation Institute for Financial Management and Research (IFMR) Capital.
About Avendus Capital:
Headquartered in Mumbai, India, Avendus Capital is an independent financial services firm that provides services such as financial advisory, capital markets, wealth management and alternate asset management. It serves mainly institutional investors, corporations and high – net – worth individuals. Financial information about the company has not been made public.
About The Institute for Financial Management and Research (IFMR) Capital:
IFMR Capital, previously known as IFMR Trust Guarantee Company, is a non-banking finance company based in Chennai, India. It aims to provide access to capital for institutions in sectors such as financial services, rural infrastructure, agriculture and others. It also aims to develop markets for new asset classes, such as microfinance.
By Trevor Kwong, Research Assistant
Sources and Additional Resources:
[1] Source Article: First Private Wealth Investment in Microfinance Securitisation:
http://ifmrblog.com/2010/09/17/first-private-wealth-investment-in-microfinance-securitisation/
[2] MicroCapital Universe: Institute for Financial Management and Research (IFMR) Capital:
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=IFMR+Capital
[3] Avendus Capital:
http://www.avendus.com/Services/AlternativeAssetManagement.aspx
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/tiki-index.php
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