ResponsAbility has launched its second microfinance fund, the ResponsAbility Microfinance Leaders Fund. The fund has an initial volume of $100 million and will be directed specifically towards the microfinance market. As stated in the press release, “The fund’s primary purpose is to offer debt capital to leading microfinance institutions (MFIs) in the form of loans with maturities of up to five years. It may also invest in MFI equity to a limited extent. The new vehicle is a response to the growing need for local currency financing, also providing local currency funding and hedging options often not available to MFIs. In addition, the fund’s flexible investment concept enables it to participate in securitizations, bond issues and other financial instruments. The fund may also buy different types of securities on the secondary market.”
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