Structured $100 million fund; assisted in first close of $50 million
Over $36 million in approved transactions as of October 2014
As the funds are deployed, households around the world will have greater access to quality, affordable housing. To date, disbursed transactions are in 14 countries including Cambodia, Peru, Kenya, Tajikistan, and El Salvador, amongst others.
Assisted HFHI in designing and structuring the MicroBuild Fund and preparing the groundwork for marketing and launch of the fund to impact investors.
Participated in field assessments in key markets, developed financial models and proposed structure for the fund, and performed a mapping of target investors for later fund raising efforts.
Assisted HFHI in fund closing activities, including finalising the business plan, developing an initial pipeline in coordination with the fund manager, and preparing for the launch of the fund.
Assisted in developing tailored due diligence tools for housing microfinance and further expansion of the pipeline of potential investments.
Provided technical assistance to investees to improve their capacity to deliver best practice housing microfinance to low income borrowers.
Enclude’s Director of Inclusive Finance participates in the Investment Committee for the Fund.
Based on the Fund activities to date, we have learned that there is indeed a wide demand on a global basis for long-term investment capital to fund housing microfinance expansion. The institutional profile of the microfinance institutions seeking funding is quite varied, from large regulated MFIs to small finance companies. MFIs seek both longer-term capital for expansion of portfolios, as well as targeted technical assistance to assist them in growing their housing microfinance portfolios in accordance with consumer protection principles.
Enclude supported Habitat from the earliest stages of the inception of fund, working alongside our team through closing and launch. Their dedication helped to make the MicroBuild Fund a reality.
Patrick Kelley, Director of Housing Finance and Market Development