According to the Consultative Group to Assist the Poor (CGAP) report of recent transactions, St. Honoré Microfinance Fund invested USD 150,000 in The Latin American Development Fund, FOLADE (Fondo Semilla) this past January 10, 2008.
St. Honoré Microfinance Fund is a Luxembourg-based collective investment fund (SICAV) co-managed by BlueOrchard Finance and Edmond de Rothschild Asset Management (EDRAM). Established in 2005, the fund invests in smaller regional investment funds, cooperatives, MFI networks, and other microfinance apex institutions. St.Honoré Microfinance Fund has a current portfolio of USD 17.6 million and typically invests a minimum of USD 50,000, and a maximum of USD 2.5 million in microfinance projects.
FOLADE is an autonomous trust of Latin American NGOs aimed at providing access to financial services for traditionally excluded social sectors such as rural communities and the working poor. Founded in 1993 to strengthen and support Latin America’s microfinance sector, FOLADE currently represents over thirty microfinance institutions in seventeen countries. Current information on their portfolio size was not available.
Other recent investments in FOLADE include a USD 500,000 loan by Oikocredit of the Netherlands in November, 2007.
By Melissa Duscha
Additional Resources:
Consultative Group to Assist the Poor (CGAP)
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