Sarona launches first impact investment fund for emerging markets

Date: Thursday, May 20, 2010
Author: Investment Executive

Sarona Asset Management Inc. has successfully completed a first closing of its Sarona Frontier Markets Fund I LP, with over $12 million in investor commitments from 34 limited partners, the Waterloo, Ont. company said Wednesday.

The new private equity fund-of-funds allows investors an aggressive strategy of financial, social, and environmental targets in developing country markets. Accroding to Sarona, the new fund is an industry first.

Gerhard Pries, Sarona’s president, suggests the fund opens up a whole world of opportunities for private investors.

“Never before have investors been able to find global diversification across countries, industries and fund managers and high value impact in one instrument. This fund captures the significant developing country upside, and marries it with the human and environmental values that investors crave,” he says.

Sarona has been active in the international impact investment sector since the early 1950’s, notes Pries.

He adds that “many investors are just now catching a glimpse of the financial opportunity, and the social and environmental impact that is available to them.”

Sarona is a co-founder and or manager of a number of impact investment funds, including the Sarona and MicroVest groups of funds. Together, these funds have over $180 million in assets under management in developing and emerging countries around the world.