Interested in this fund?
Log in or create an account to request more information.
Gain a deeper and comprehensive understanding of how this fund generates positive impact in the themes and SDGs that matter to you, with insights provided by our dedicated team of expert analysts, and receive notifications about new available impact products, exciting investment opportunities, and relevant updates in the world of impact investing.
Fund geography
Emerging countries (256) / Asia (67) / South-Eastern Asia (21) / Philippines (2)
New holding company, focused on SME/micro-finance banks in rural Philippines.
We will accelerate growth in up to 10 established Rural Banks by providing Capital and Expertise.
The banks are privately owned, regulated, operate in markets with little competition, are focused on lower income unbanked populations. Most have assets of $50-100m and 20-40 branches. Most banks are already profitable – our aim is to accelerate growth. There are 15 banks in our pipeline.
The market is significantly under-penetrated. Only 18% of rural Filipino adults have bank accounts - well below trend. Few SMEs can access finance, especially in rural areas.
Bridge will create value by improving banking capabilities, especially in lending, achieving scale in back-office functions, consolidating banks, improving transparency and providing a reliable access to capital.
The Holding Company is led by Paul Kocourek, former Senior Partner at Booz & Co, and Gus Poston, a banker with 18 years experience in microfinance.
Asset class
Fund status
Fund style
Financial description
Holding company will invest in 2-3 established Rural Banks, providing $4m-$20m additional capital to each bank.
The total holding company size will be $24m.
The target IRR is 19% gross of fees, 16% net of fees.
13 years
of track record
2011
the year funded
24,242,000 USD
AUM
Interested in this fund?
Log in or create an account to request more information.
Gain a deeper and comprehensive understanding of how this fund generates positive impact in the themes and SDGs that matter to you, with insights provided by our dedicated team of expert analysts, and receive notifications about new available impact products, exciting investment opportunities, and relevant updates in the world of impact investing.
Asset manager
Key performance indicators
Fund overview
Asset manager: Bridge Philippines Investments Pte.
Product track record: Fund has 13 years of track record
Target IRR: 16%
Committed Capital: 24,242,000 USD (US Dollar)
Target return category: Risk-adjusted market-rate of return
Fund domicile: Singapore
Product status: Closed - still investing
Style/Stage: Growth Stage
Inception year: 2011
Vintage year: 2014
Target region: Asia, Emerging countries, Philippines, South-Eastern Asia
Target close date: 01/08/2014
Product term: Indefinite (target 7 year investment period)
Assets under management: 24,242,000 USD (US Dollar)
Investment size: Min: 15,000,000; Max: 500,000,000; Avg: 100,000,000
Co-investment policy: LPs have priority, With LPs and non-LPs
Currency of investments: PHP (Philippine Peso)
Currency for fund / product figures: USD (US Dollar)
Fund investments to date: 2
Fund investments to date exited or repaid: 0
Management fee: n.a.
Carried interest: 20%
Hurdle rate: 8%
GIIN Investors' Council Investment: Yes
Limited Partners / Investors: FMO, DEG, ACCION, Bamboo Finance, Principals
Limited Partner / Investor Type: Development Finance Institution (DFI), Endowments/Foundations, Family Office, Pension Funds, Other Institutional Investors
Contact
E-mail: n.a.
Website: http://www.bridge.sg
Phone number: +63 9088122901
If you wish to have your details removed from this database please email gdpr@impactyield.com
Gus Poston
Principal
Paul Kocourek
Co-Sponsor
Impact Performance
n.a.
Impact thesis
By 2020, the investee banks will serve 3m savings and loan customers. These customers will be located in rural areas, which are currently poorly served by banks. Most customers will be women. In addition, the banks will lend to many SMEs, the main source of job creation, which currently have limited access to finance.
Through partnership with Bridge, investee banks will become "Ethical Leaders"; following best practice in employee rights and good governance, focusing on financially excluded populations and areas.
Target banks are already socially motivated. Bridge will support them to become "Triple Bottom Line Lenders", focusing on socially and environmentally beneficial enterprises. Social and environmental criteria will be included in lending/credit risk management systems. Product development will focus on products promoting sustainable practice, especially within agriculture and small enterprise.
In summary, Bridge's investment program will result in
– ~3 million people with access to finance, especially women
– ~1.5 million people with jobs from SME lending and micro-finance
– promotion of socially and environmentally beneficial enterprises from Triple Bottom Line lending
Impact Management
n.a.
Financial benchmark
Others
Term Description:
Keywords
Bottom/Base of the PyramidCommunity Investing/LocalJob CreationLaborRural