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Fund geography
Emerging countries (256) / Latin America and the Caribbean (38) / Caribbean (8) / Dominican Republic (4)
The Higher Education Finance Fund lends to and provides technical assistance to microfinance institutions (MFIs) and other financial intermediaries serving low income populations in selected Latin American countries.
Asset class
Fund status
Fund style
Financial description
The Fund has total commitments of US$34 million (long-term debt /capital ratio of 50/50). The Fund also has a Technical Assistance component with non-reimbursable contributions for a total of US$1.6 million.
First closing was in December 2011, with a final closing on June 2013 at US$34 million.
13 years
of track record
2011
the year funded
50,000,000 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
Impact Category
Key performance indicators
Fund overview
Asset manager: Omtrix.
Product track record: Fund has 13 years of track record
Target IRR: 10%
Committed Capital: 0 USD (US Dollar)
Target return category: Risk-adjusted market-rate of return
Fund domicile: Costa Rica
Product status: Closed - still investing
Style/Stage: Early Stage
Inception year: 2011
Vintage year: 2012
Target region: Caribbean, Dominican Republic, Emerging countries, Latin America and the Caribbean
Target close date: 01/06/2013
Product term: 11
Assets under management: 50,000,000 USD (US Dollar)
Investment size: Min: 0; Max: 0; Avg: 0
Co-investment policy:
Currency of investments: USD (US Dollar)
Currency for fund / product figures: USD (US Dollar)
Fund investments to date: 9
Fund investments to date exited or repaid: 0
Management fee: 2.5%
Carried interest: 20%
Hurdle rate: 6%
GIIN Investors' Council Investment: Yes
Limited Partners / Investors: Overseas Private Investment Corporation, Calvert Foundation
Limited Partner / Investor Type: Development Finance Institution (DFI)
Contact
E-mail: lornali@omtrixinc.com kgomez@omtrixinc.com
Website: http://heff-education.com/
Phone number: 506 22204122
If you wish to have your details removed from this database please email gdpr@impactyield.com
Juan Carlos Pereira
Fund Manager
Impact Performance
n.a.
Impact thesis
The Fund will help by providing funding and technical assistance to MFIs that will offer higher education finance loans with terms that will make the product feasible and appropriate for students who lack the means to pay on their own.
Impact Management
n.a.