April 6, 2017
Written by Dennis Price
This article originally appeared on Impact Alpha.
An influential group of former public finance whizzes is going private, with a new mezzanine debt fund that will piggyback on development bank deals.
BlueOrange Capital aims to bring $10 in private capital for every $1 in public investment, starting with Latin America and the Caribbean. The fund was launched quietly this weekend in Asunción, Paraguay at the annual meeting of the Inter-American Development Bank, by Bertrand Badré, who left the World Bank as chief financial officer last year. The new fund pledged to mobilize $1 billion for small and mid-sized business lending in line with the 2030 Sustainable Development Goals.
Partnerships with development finance institutions is core to BlueOrange’s strategy, as it looks to piggyback on DFI deals and due diligence. In managing some $300 billion in global impact investments, DFIs “have the most robust pipeline for social investing in the world,” according to the new BlueOrange website.