First Microfinance CLO Since 2007 Sold by Swiss Impact Investor
- JPMorgan structured deal and CLO manager ZAIS had adviser role
- Funds provide capital to 5.6 million borrowers, mainly women
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Impact investor responsAbility Investments AG sold a $175 million so-called microfinance collateralized loan obligation earlier this month with the help of JPMorgan Chase & Co., reviving a type of financing for emerging-market entrepreneurs and small businesses that last saw the light of day in 2007.
CLO manager ZAIS Group acted as adviser on the transaction as part of its recent push into ESG and impact investing via the securitization markets. The company hired structured finance veteran Desiree Fixler in March to build out ZAIS’s own securitized-product line for the ESG space.