MetLife Investment Management, a member of US-based financial services firm MetLife Incorporated, recently granted a 5-year revolving credit line of USD 20 million to MicroVest, a US-based asset management firm specializing in lenders to micro-, small and medium-sized businesses. MicroVest CEO Gil Crawford expressed the hope that the investment will “prove catalytic as we seek to grow MicroVest’s lending footprint across emerging markets, providing appropriately priced capital to financial institutions serving the underbanked.”
MicroVest is a for-profit firm that promotes “financial inclusion by investing in responsible financial institutions that serve underbanked people and businesses.” It was founded in 2003 and has USD 385 million in assets under management as of 2017.
MetLife Investment Management has USD 587 billion in assets under management as of 2018. MetLife Incorporated, which was founded in 1868, provides insurance and employee benefits to approximately 100 million customers in 50 countries.
By Michelle Fleming, Research Associate
Sources and Additional Resources
MicroVest press release
https://microvestfund.com/wp-content/uploads/2018/10/MetLife-Announcement-FINAL.pdf
MetLife Investment Management homepage
https://www.metlife.com/investments/investment-management/
MicroVest homepage
https://microvestfund.com
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/.
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