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Sarona Frontier Markets Fund 2, LP
Cayman Islands
Last updated 12 May 2020, by Impactyield.
Fund geography
Sarona Frontier Markets Fund 2 seeks to identify the best possible Private Equity teams based across Africa, Asia and Latin America with a clear focus on the growth and development of mid-market companies. Sarona's investment professionals look for local managers that are committed to achieving its investment objective: profitable "Growth that Matters". Such Private Equity teams aim to invest in growth-oriented businesses, with progressive, forward-looking management who develop ethical, environmental, and community excellence in their businesses. In order to optimise its risk-adjusted return profile, the fund will consist of primary and secondary funds as well as a number of direct co-investments.
Financial description
The Investment Fund expects to make investments (“Portfolio Investments”) in private equity funds focused on small and mid-market companies (SMEs) in frontier markets. Frontier Markets are generally defined as those countries with GDP per capita of US$500 to US$12,000 as shown by the latest World Bank statistics excluding failed states and small island states with populations below 1,000,000. The Investment Fund may also make direct co-investments in some of the companies held by the private equity funds and may acquire, on a secondary basis, interests in private equity funds from third parties.
11 years
of track record
2013
the year funded
250,000,000 USD
AUM
Interested in this fund?
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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
Sarona Asset Management
Headquarters location: Canada
Other funds managed by this asset manager: Sarona Frontier Markets Fund 3, LPSarona Risk Capital FundSarona Frontier Markets Fund 1 LPSarona Risk Capital Fund 1 LP
Impact Category
Key performance indicators
Fund overview
Asset manager: Sarona Asset Management
Product track record: Fund has 11 years of track record
Target IRR: 20%
Committed Capital: 87,000,000 USD (US Dollar)
Target return category: Risk-adjusted market-rate of return
Fund domicile: Cayman Islands
Product status: Closed - still investing
Style/Stage:
Inception year: 2013
Vintage year: 2013
Target region: Emerging countries
Target close date: 01/10/2014
Product term: 12 years
Assets under management: 250,000,000 USD (US Dollar)
Investment size: Min: 0; Max: 0; Avg: 10,000,000
Co-investment policy:
Currency of investments: USD (US Dollar)
Currency for fund / product figures: USD (US Dollar)
Fund investments to date: 16
Fund investments to date exited or repaid: 0
Management fee: 1%
Carried interest: 10%
Hurdle rate: 10%%
GIIN Investors' Council Investment: No
Limited Partners / Investors: n.a.
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.saronafund.com/
Phone number: +1.519.883.7557
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Vivina Berla
Co-Managing Partner
Impact Performance
n.a.
Impact thesis
Sarona believes that business leaders who employ progressive business practices outperform their peers. These leaders seek ethical, social and environmental excellence. Such business excellence is believed to reduce risk, strengthen long-term sustainable value, and enhance exit possibilities. Sarona continually strives to ensure effective social and environmental management practices in all its activities, products and services, with a special focus on the following:
• Consistency with Sarona’s Environmental, Social and Governance (“ESG”) performance requirements agreed;
• Reporting on ESG and Impact targets;
• Annual review against ESG performance requirements;
• Ensuring investments in Private Equity Fund are not on the excluded list of activities;
• Meeting Sarona’s commitments of the United Nations’ PRI, its Principles for Investors in Inclusive Finance and as a Certified B Corporation;
• And, ensuring transparency in its investment activities to investors.
Impact Management
n.a.