MicroVest Closes Private Equity Fund

Thursday, February 4, 2010

MicroVest Capital Management, LLC closed MicroVest II, LP, a private equity fund targeting microfinance institutions worldwide. The fund, which closed with $60 million in commitments, will serve as a capital intermediary between investors and financial institutions that serve the working poor. J.P. Morgan Securities Inc. acted as a placement agent, and one of its affiliates was a lead investor. In addition to J.P. Morgan, lead investors include the International Finance Corporation, CARE USA, Kinnevick New Ventures AB, The Prudential Insurance Company of America, Christian Super Pyt, Ltd, and Mennonite Economic Development Associates.

Press release:
MicroVest Capital Management, LLC is pleased to announce the closing of MicroVest II, LP, a private equity fund targeting top-tier microfinance institutions worldwide. The fund will serve as a capital intermediary between investors and financial institutions that serve the working poor.

The fund closed with $60 million in commitments in December 2009. J.P. Morgan Securities Inc. acted as a placement agent, and one of its affiliates was a lead investor. In addition to J.P. Morgan, lead investors include the International Finance Corporation, CARE USA, Kinnevick New Ventures AB, The Prudential Insurance Company of America, Christian Super Pyt, Ltd, and Mennonite Economic Development Associates.

Source: peHUB (link opens in a new window)