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Canadian Asset Manager successfully closes its 2011 series fund of funds for developing countries

Sarona Asset Management successfully closed the 2011 series offering of its Sarona Frontier Markets Fund I LP on January 31st, with over USD22 million in investor commitments raised.

The fund is a global industry first – a private equity fund-of-funds that offers investors an aggressive strategy of financial, social, and environmental targets in developing country markets. It is a response to investor calls for more creativity in ‘impact investment’ offerings. 

"Never before have investors been able to find global diversification 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," says Sarona President, Gerhard Pries.

Serge LeVert-Chiasson, Sarona’s VP and Chief Investment Officer adds: "By creating a fund of funds, investors get diversification across countries, industries and the best managers in the sector."

With over 70 private investors, Sarona Asset Management expects its fund to now attract institutional investors through some of the larger banks and financial advisory houses – proof of the growing interest and demand for impact investment products.

The Sarona Frontier Market Fund I LP has already invested in 6 funds, and in turn 42 companies, which employ 15,042 jobs and serve nearly 6 million low income clients.

Sarona Asset Management is based in Waterloo, ON, and 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 USD180 million in assets under management in developing and emerging countries around the world.

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