Insights

News / 20 March 2015

Crestbridge provides AIFM ManCo services to SFRE global open-ended investment fund

AIFM ManCo services

"We are delighted to participate in the launching of this Fund, reinforcing our position both as a leading SuperManco in Luxembourg but also a supporter of the socially responsible investment market", commented Daniela Klasén-Martin, Managing Director and Country head of Crestbridge (Luxembourg)

As announced in Paris on 11 March, SFRE was initiated by the Global Alliance for Banking on Values (GABV) to meet growth capital needs of values-based banks, and expand their impact and reach. “SFRE is a concrete example of positive financial innovation focused on meeting human needs in the real economy.” said Peter Blom, Chair of the Board of Directors of the Global Alliance for Banking on Values, and CEO of Triodos Bank (The Netherlands). “Our research identified approximately 2,000 banks with this focus having assets of USD 600 billion and equity of USD 65 billion. They represent a significant, growing, positive-money movement that requires and deserves new sources of growth capital.”

“This is a great investment opportunity,” said Clara Miller, president of The F.B. Heron

Foundation, an anchor investor in SFRE. “During the last five years banks with a social,

environmental and economic mission at the core of their business models have achieved higher financial returns than many of the largest banks in the world. These banks focus on meeting client needs and serving their communities. This makes SFRE a win-win from both financial and impact performance perspectives.”

On the milestone of SFRE’s initial fund close, Jim Prouty, CEO, SFRE commented, “Investors have already committed over USD40 million to SFRE, which is an open-ended investment vehicle. Responding to a dynamic and growing demand for capital, our ambition is to mobilize up to USD1 billion over the next 10 years.” Significantly:  

• SFRE is the first fund of its kind with a global focus established solely with private capital;

• SFRE funds will be invested in banks and leveraged ten times by these banks to support the real economy; and

• SFRE investors include GABV members, foundations, institutional investors, family offices, and private investors.

About the GABV: The Global Alliance for Banking on Values (GABV), founded in 2009, is a growing independent network of financial institutions with a shared mission to use finance todeliver sustainable economic, social and environmental development.  Members include 25 financial institutions operating across 30 countries in Asia, Africa, Australia, Latin America, North America and Europe; serving 20 million customers with up to USD 100 billion of combined assets under management; and powered by a network of 30,000 co-workers. Access to decades of experience, combined with deep and diverse knowledge of the GABV members, is an important strategic asset for SFRE. Learn more at www.gabv.org

About SFRE: SFRE, a Luxembourg based investment company, is a separate entity. CEO, Jim Prouty, joins SFRE from a distinguished international career in banking, including Bank of America, Heller Financial and elsewhere. MicroVest Capital Management, LLC (www.microvestfund.com) acts as portfolio manager for SFRE investments.

Crestbridge is a leading independent provider of fiduciary, governance and administration services.  We offer a comprehensive range of services including UCITS and AIFM Management Company services and Independent Risk Management solutions.

For further information please contact Daniela Klasén-Martin