Phnom Penh, Cambodia, 12 August 2010 -
BlueOrchard Finance SA
, a global leader in commercial microfinance investments, today announced the opening of its first office in Phnom Penh, Cambodia. With this hub in Cambodia, BlueOrchard Finance looks to strengthen and expand its presence across Asia.
BlueOrchard Finance, with its ten-year track record, invests in microfinance institutions that target low income communities. It has proven in a decade that social and economic investment can create solid returns for investors while at the same time transforming the lives of millions of disadvantaged people.
In Cambodia, BlueOrchard Finance has been actively lending to microfinance institutions since 2001 and has a current investment portfolio of 36 million USD. Across South and South-East Asia, BlueOrchard Finance manages a total of 115 million USD. Worldwide, BlueOrchard manages over 1 billion USD through its existing network in Geneva, New York, Lima, Amsterdam and Bishkek.
Geert Roosen, CFO, BlueOrchard Finance said from Phnom Penh: “BlueOrchard Finance pioneered debt investing in microfinance for the fund management industry in 2001 and we are today witnessing another milestone which will allow us to strengthen our presence and drive our expansion in Asia. Being present in this rapidly evolving market is a must to serve our global investors and local investments."
Commenting on BlueOrchard Finance’s expansion strategy in Asia, Melchior de Muralt, Vice Chairman of BlueOrchard Finance’s Board of Directors and driving force behind its Asian expansion strategy commented from the Cambodian capital: "Further Asian projects will be launched in the coming months as we see great opportunities both on the fundraising and on the placement side. Indeed, double bottom line investing might well become part of the Asian investors’ mindset as increased interest of Asian second generation family offices, foundations and institutional investors show. On the investment side future projects in China and India are being investigated together with respective local partners."
The Phnom Penh office will be managed by Julie Cheng, one of BlueOrchard Finance’s investment directors who has extensive experience in the region. Julie Cheng, who was heading the BlueOrchard Finance investment team for the Asian region in Geneva for more than 6 years, has relocated to Phnom Penh together with Matteo Marinelli, Senior Investment Analyst.
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