Deal Origination and Servicing Partner: Barak

Barak Fund Management, Ltd.

Barak is an Africa-based asset management company founded in 2008 that manages private debt funds focused on providing trade finance and term loans to small and middle market companies in Africa. Barak specializes in sourcing and originating mainly commodity and agricultural-related transactions with strong collateral characteristics. With affiliate offices in Côte d’Ivoire, Ghana, Kenya, Mauritius, South Africa and the United Kingdom, the Barak team is positioned to source and take advantage of the numerous opportunities that arise in some of the world’s fastest growing economies. Barak has completed over $4.6 billion in transactions since its inception. Barak’s two founding principals have more than 54 years of combined experience in trading, international banking and private debt investment in Africa. Both possess specialist expertise and proven track records in the agricultural and commodities sectors.

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Any Deal Origination and Servicing Partner data depicted is as reported to TriLinc by the Deal Origination and Servicing Partners on an annual and/or ad hoc basis. Deal Origination and Servicing Partner relationships are subject to change. Capital deployed by Deal Origination and Servicing Partner relationships are subject to change. Capital deployed by Deal Origination and Servicing Partners is not solely in connection with TriLinc products or transactions and may apply to Deal Origination and Servicing Partner firms, products, or personnel as relevant. Years of experience refers specifically to the industry related experience of the Deal Origination and Servicing Partner personnel with whom TriLinc works both at their current firms and/or at prior firms. There is no assurance that a Deal Origination and Servicing Partner’s past performance will be indicative of future results.

Deal Origination and Servicing Partner: CCL Capital

CEECAT Capital Limited & CCL Investments SARL (CCL):

Established in 2014, CCL Capital is a European-focused spin-off of ADM Capital, which has specialized in recovery, special situations and stressed opportunities across Asia since 1998 and in the Central and Eastern Europe, Central Asia and Turkey (CEECAT) region since 2005. CCL manages all of ADM Capital’s legacy assets in the CEECAT region and focuses on extending private credit to SMEs who cannot access regular bank financing due to factors such as local regulatory restrictions on bank lending, illiquidity or stress in the banking sector, delays in the bank approval process, collateral coverage mismatch for local banks, among others.  CCL’s principals have over 78 years of combined experience in corporate and structured finance, cash equity sales and equity derivative sales, and have completed a total of ~$353 million in debt investment deals across the CEECAT region. CCL has a demonstrated track record in establishing, operating, managing and advising funds that invest in companies across the region through utilizing their strong cultural knowledge of the local legal jurisdictions and regulatory compliance requirements.

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Any Deal Origination and Servicing Partner data depicted is as reported to TriLinc by the Deal Origination and Servicing Partners on an annual and/or ad hoc basis. Deal Origination and Servicing Partner relationships are subject to change. Capital deployed by Deal Origination and Servicing Partner relationships are subject to change. Capital deployed by Deal Origination and Servicing Partners is not solely in connection with TriLinc products or transactions and may apply to Deal Origination and Servicing Partner firms, products, or personnel as relevant. Years of experience refers specifically to the industry related experience of the Deal Origination and Servicing Partner personnel with whom TriLinc works both at their current firms and/or at prior firms. There is no assurance that a Deal Origination and Servicing Partner’s past performance will be indicative of future results.

Deal Origination and Servicing Partner: Origin

Origin Capital Limited

Origin is headquartered in Johannesburg, South Africa with associates in six countries. Origin originates, structures, and manages transactions in Latin America and Africa, and partners with larger funds, development banks, and institutional investors. Origin’s Latin American team is composed of two senior members with a combined 35 years of investment experience in Latin American debt. Their Africa Credit team is composed of four senior members that have collectively over 65 years of experience in African and Emerging Market debt. Origin is differentiated by a combination of investment skills, local and international networks, and a thorough understanding of the Latin American and African environments. Origin’s founding partners have more than 76 years of combined experience in private debt, banking, and asset management in emerging markets.

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Any Deal Origination and Servicing Partner data depicted is as reported to TriLinc by the Deal Origination and Servicing Partners on an annual and/or ad hoc basis. Deal Origination and Servicing Partner relationships are subject to change. Capital deployed by Deal Origination and Servicing Partner relationships are subject to change. Capital deployed by Deal Origination and Servicing Partners is not solely in connection with TriLinc products or transactions and may apply to Deal Origination and Servicing Partner firms, products, or personnel as relevant. Years of experience refers specifically to the industry related experience of the Deal Origination and Servicing Partner personnel with whom TriLinc works both at their current firms and/or at prior firms. There is no assurance that a Deal Origination and Servicing Partner’s past performance will be indicative of future results.

Deal Origination Partner: Enhanced Capital

Enhanced capital

Founded in 1999, Enhanced Capital is a U.S.-based impact investment firm. Enhanced Capital invests capital into local businesses, renewable energy projects, historic real estate rehabilitation, and affordable housing projects through federal and state incentive programs and other public policy investment strategies. Enhanced Capital has completed transactions invested in 36 states across the U.S., supporting small businesses through their impact lending strategy and other small business lending strategies. Enhanced Capital’s principals have a combined experience of over 45 years in credit analysis and asset management.

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Deal Origination Partner data depicted is as reported to TriLinc by Deal Origination Partners on an annual and ad hoc basis. Deal Origination Partner relationships are subject to change. Capital deployed by Deal Origination Partners is not solely in connection with TriLinc products or transactions and may apply to Deal Origination Partner firms, products, or personnel as relevant. Years of experience refers specifically to the industry related experience of the Deal Origination Partner personnel with whom TriLinc works both at their current firms and/or at prior firms. There is no assurance that a Deal Origination Partner’s past performance will be indicative of future results.

Deal Origination and Servicing Partner: Scipion

Scipion Capital Ltd.

Scipion is a Sub-Saharan Africa-focused investment management firm that has deployed over $512 million in trade finance transactions since its inception in 2007. Headquartered in London, with an office in Geneva and investment team member presence in Botswana and Morocco, the firm focuses its investment strategy on managing a diversified portfolio of trade finance assets across multiple industries, geographies, and financing structures. More specifically, Scipion’s emphasis on short duration and self-liquidating transactions is a cornerstone of its investment strategy and has translated into an attractive track record of risk-adjusted returns and a reputation as one of the leading trade finance managers in the region. Scipion’s principals execute the firm’s strategy through over 154 years of combined experience in banking, emerging markets, and trade finance in Africa.

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Any Deal Origination and Servicing Partner data depicted is as reported to TriLinc by the Deal Origination and Servicing Partners on an annual and/or ad hoc basis. Deal Origination and Servicing Partner relationships are subject to change. Capital deployed by Deal Origination and Servicing Partner relationships are subject to change. Capital deployed by Deal Origination and Servicing Partners is not solely in connection with TriLinc products or transactions and may apply to Deal Origination and Servicing Partner firms, products, or personnel as relevant. Years of experience refers specifically to the industry related experience of the Deal Origination and Servicing Partner personnel with whom TriLinc works both at their current firms and/or at prior firms. There is no assurance that a Deal Origination and Servicing Partner’s past performance will be indicative of future results.

Deal Origination and Servicing Partner: TRG

TRG Management, LP

Founded in 2002, TRG is a leading emerging markets asset management firm. The firm and its affiliates manage product offerings across private equity, private credit, hedge funds, fixed income, infrastructure and real estate. TRG is headquartered in New York, with offices around the globe including Brazil, Peru, Uruguay, Argentina, India, Singapore, and London. TRG’s Latin American Credit Team (“LACT”) is composed of five senior members that have collectively over 194 years of investment experience in institutional lending, debt structuring, sales and trading, and high-yield distressed debt transactions. With a deep network of relationships throughout Latin America, LACT has deployed over $1.3 billion since 2004 in credit transactions in some of the region’s most predominant sectors, including the utility, telecommunications, retail, and energy industries. TRG’s disciplined investment process, robust investment administration and operations infrastructure, and strong emerging market investment track record support LACT and its strategy to create substantial value for its investors and SMEs that are currently underserved by traditional banks and financial intermediaries operating in the region.

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Any Deal Origination and Servicing Partner data depicted is as reported to TriLinc by the Deal Origination and Servicing Partners on an annual and/or ad hoc basis. Deal Origination and Servicing Partner relationships are subject to change. Capital deployed by Deal Origination and Servicing Partner relationships are subject to change. Capital deployed by Deal Origination and Servicing Partners is not solely in connection with TriLinc products or transactions and may apply to Deal Origination and Servicing Partner firms, products, or personnel as relevant. Years of experience refers specifically to the industry related experience of the Deal Origination and Servicing Partner personnel with whom TriLinc works both at their current firms and/or at prior firms. There is no assurance that a Deal Origination and Servicing Partner’s past performance will be indicative of future results.

Weekly Impact Investment Market Update: February 12, 2019

Impact Investing & ESG
 

Investors are Starting to See the Positive Effect of ESG Investing
As the tide pulls some chief investment officers and asset owners toward improving corporate ESG practices, there is strong evidence that ESG investing is now rewarded, especially in the Eurozone, according to a recent Amundi SA study.

Impact Investing Isn’t Just for the Rich – We All Have a Part to Play
When I talk to people outside this field [impact investing], there’s still a widespread perception that philanthropy and impact investing is a preserve of the rich; that most people don’t have the luxury of being able to invest for impact.

Calls Grow to Change How ESG Risks are Categorized
Two European regulators, the European Securities Markets Authority and the European Commission, asked money managers in December to share their views on how to incorporate ESG factors into their processes in three European regulations.

Predictions for 2019: Impact Investing
There’s an opportunity this year to reshape what finance looks like – as long as that world is willing to ask itself some difficult questions, writes Daniel Madhavan, CEO of Impact Investment Group.

Emerging MSCI ESG Trends to Watch in 2019
Protest movements have elevated the profile of ESG investing to the point that financial advisors who dismiss its significance could miss out on attracting new clients as well as juicy returns for their existing clients’ portfolios.

ESG: A Trend That Pays Off in Performance?
More and more, individuals and communities are placing heightened awareness on being environmentally conscious, whether that is through Earth Day events or beach cleanup days. These activities not only have a positive impact on the environment but also socially — who doesn’t enjoy a clean, green environment?

What’s the Score with ESG Investing? You Have to Dig Deeper
Using ESG scores to measure investment worthiness of a company is a good start, but advisors have to go deeper to see the real picture.

Millennials: Save the World and Get Rich Doing So
ESG investing is one of the hottest trends on Wall and Bay Street, and no, it’s not just some fad that will die out like Bitcoin did last year. This may surprise you, but how environmentally or socially responsible a company acts could actually add intangible value that’ll ultimately be reflected in the stock price.

Surveying the Investment World Through an ESG Lens: A Snapshot of Key Topics from the U.S.
Environmental, social and governance (ESG) topics have never been more prominent in investors’ minds than they are today. But there’s considerable variation among investment managers about how ESG is considered or integrated.

 

Developing Economies
 

The Case for Emerging Markets: Likely Long-Term Out Performance
While the performance in any given year is uncertain, emerging markets appear poised for out performance over the next 5-10 years.

AfDB Report: Africa’s 2019 Economic Outlook
This year’s flagship report is themed: “Regional Integration for Africa’s Economic Prosperity.”

South Africa’s President Says Mining Key to Reviving Economy
South African President Cyril Ramaphosa says the country’s mining sector will be crucial to reversing sluggish economic growth and high unemployment.

Southeast Asia Bucks Trend of Sinking Global Foreign Investment
Southeast Asia is bucking the global trend of falling direct foreign investment, as the low-cost fast-growing region solidifies its position as an attractive location for multinationals.

Indonesia’s Economy Shows Resilience as GDP Beats Forecasts
Indonesia’s economy grew faster than economists expected last quarter, showing resilience in the face of a series of interest-rate hikes and weaker global demand.

Argentina’s Currency Gets Boost from Tight Monetary Policy
The ultra-tight monetary policy that Argentine authorities adopted amid last year’s currency crisis has yielded results and given a big boost to the peso, although economists see potential trouble on the horizon ahead of the October 2019 general election.

Brazil to Maintain Record Low Rates, Debate Turns to More Easing
Brazil’s central bank will keep its benchmark interest rate anchored at a record low later this week, and probably keep it there for the rest of this year, according to a Reuters poll of economists.

Weekly Impact Investment Market Update: January 25, 2019

Impact Investing & ESG
 

The Rise Fund Spin-Off Marks Growth of Impact Investing
U.S. private equity firm TPG and U2 star Bono’s announcement earlier this week that they have created a new organization for measuring the social and environmental returns of investments appears to be a signal of growing investor demand for tools to assess impact.

A 2019 Resolution to Start Impact Investing
Has this happened to you? A valued client comes to you asking about impact investing or a new sustainable investing fund, and you are caught flat-footed, not knowing what to say or how to advise the client on this growing segment of investments.

5 Major ESG Trends for Advisors to Watch in 2019: MSCI
These and other findings in the MSCI report spotlight environmental, social and governance  trends that could affect companies and investors in 2019, and should be on an advisor’s radar going forward.

Why There’s So Much Push For ESG Investing
Businesses shape our world, that’s a fact. Their actions are profound, global and lasting. They impact our Earth, our oceans, our climate, our cities and our lives. We can all participate in changing the world for the better by inciting businesses to become a driving force for good.

Misaligned Hiring Priorities Risk Taking the Impact Out of Impact Investing
The underlying assumption behind this underestimation is simple: they believe it’s easier to teach an experienced venture investment professional about social impact than it is for a social impact expert with no investment experience to learn the rules of the venture capital game and develop the pattern-matching skills to be a successful investor.

OECD Says Impact Investment Needs Universal Standards
Impact investing could be more effective if universal measurement standards were implemented and impact goals were better defined, an OECD report says.

How Impact Investing Can Amplify Philanthropic Efforts
For years, philanthropy and investing have been treated as separate disciplines—one championing social change, the other financial gain. The idea that the two approaches could be integrated in the same deals once struck most philanthropists and investors as far-fetched. Not anymore.

Skeptical About ESG? Don’t Be. Here’s Why
The evidence is piling up against advisors who remain skeptical on environment, social and governance investing. A recent study by Amundi SA found that government actions and corporate scandals have forced a “wake-up call” to scrutinize companies for ESG friendliness, something even sovereign wealth funds and central banks are acting on.

The Top Ten Trends That Will Affect Family Offices In 2019 And Beyond
There is an undeniable socio-cultural mindset shift towards ethical social and environmental practices. Consumers and employees, as well as the world at large, are putting pressure on organizations to do what is best for people and the planet before driving the profit agenda.

 

Developing Economies
 

Unlimited Opportunities: Creating More Jobs for Young People in Emerging Market and Developing Economies
“To define is to limit,” Oscar Wilde once said. But sometimes economists need to use definitions to see the scope of a problem and find ways to lift the limits to success. This is especially true for young people in emerging markets and developing economies.

IMF Warns Trade Tensions Could Hit Growth
The International Monetary Fund has warned that escalating trade tensions could undermine global economic growth.

UN Speaks Positively about Kenya’s Economic Growth
Economic growth is expected to remain strong in Kenya and the rest of East Africa this year and the next, the United Nations said.

Two Decades Post Asian Financial Crisis, How Southeast Asia Can Keep Up Stunning Growth
For ASEAN to continue to prosper in 2019 and beyond, they’ll need to drive harder for regional integration, says HSBC Singapore’s Tony Cripps.

Weekly Impact Investment Market Update: January 18, 2019

Impact Investing & ESG
 

An ESG Approach to Emerging Market Debt
The growing interest in ESG factors reflects a developing trend that asset owners and investors are increasingly focused on sustainability alongside investment performance. BNP Paribas AM believes ESG factors are integral in emerging market investing.

Institutions Increase ESG Focus in 2018
At the start of 2018, public pension plans and insurance companies accounted for about 91% of institutional assets focused on environmental, social and governance factor investing, with educational institutions a distant third at 6% of total ESG assets.

Virtuous Investing Finally Starts to Pay Off
A study published this week by Amundi SA, Europe’s biggest money manager with 1.5 trillion euros ($1.7 trillion) of assets, suggests that ESG’s first movers have been subject to a disadvantage, but the tide is turning in favor of the virtuous.

How to Evaluate Socially Responsible Investing
Finding socially responsible investments is easier than ever before, but questions still remain around just what impact these investments are actually having.

The State of Socially Responsible Investing
Many of the innovations have been driven by a collaboration between public, private, and philanthropic institutions.

When Cash is Not King: The New Favorite Investment Option for Family Offices
As an investment driver, impact investing is becoming increasingly popular amongst family offices, with 32% surveyed now reporting involvement in this space, a 4.2% increase versus 2017.

Opinion: The ‘Impact Imperative’ for Sustainable Development Finance
There is no luxury to invest in development without certain, sustainable impact.

The New Era of Refugee Investing
More than three years into the pursuit of the Sustainable Development Goals (SDGs), not one country is on track to achieve them by the 2030 deadline. This conclusion, reached in a recent Brookings Institution report, highlights the enormous human costs associated with not meeting these goals, and implores countries to do more

 

Developing Economies
 

Emerging-Market Rally Suddenly Seems Possible
The Federal Reserve’s more dovish tone, combined with falling volatility, relatively low valuations and rising commodity prices, are keeping most investors positive

African Growth Too Slow for Expanding Workforce –AfDB
Africa’s anticipated healthy annual economic growth of about 4 percent in coming years will still be too slow to create enough jobs for its fast-expanding labor force, a regional loan body said on Thursday.

Southeast Asia’s Retail Boom Fuels the Rise of Logistics
Alibaba’s logistics arm Cainiao Smart Logistics Network had reportedly delivered the first 100 million parcels from the Singles Day Global Shopping Festival in just 2.6 days, illustrating that the e-commerce giant is quite simply on a whole another level to the logistics companies in Southeast Asia which are beset by infrastructure challenges.

Argentina and Chile Agree to Free Trade Agreement
With the decline of Mercosur, Argentina is looking westward towards its Pacific allies, as it signs a landmark free trade agreement with Chile.

Brazil’s Economy Set to Rebound on New Government Reforms: Reuters Poll
Brazil’s sluggish economic growth will pick up smartly this year, provided President Jair Bolsonaro’s new government implements promised budget-tightening reforms and helps expand the private sector, a Reuters poll showed on Friday.

Weekly Impact Investment Market Update: January 11, 2019

Impact Investing & ESG
 

ESG Influence on Credit Ratings Revealed by Fitch Ratings
London-based Fitch Ratings, a credit rating agency, has issued a new scoring system that shows how environmental, social and governance factors impact individual credit rating decisions, Fitch Ratings announced Monday.

To Build a Sustainable Future, Impact Investing Needs to be Brought into the Forefront
It goes without saying that bringing impact investing to the forefront would provide a new power and push to achieve the UN Sustainable Development Goals.

If 2018 Was the Year of ESG Investing, What Will 2019 Bring?
Today, sustainable investment has evolved from negative exclusion to positive inclusion. Now, 90 percent of institutional investors globally believe ESG (environmental, social and governance) integrated portfolios are likely to perform as well or better than non-ESG integrated portfolios, and 72 percent are evaluating ESG factors to make investment decisions.

How Data-Driven Strategies Can Improve Impact Investing Outcomes
Data science is making inroads into the world of impact investing, helping program designers and beneficiaries achieve closer alignment between their goals and strategies.

Finance as a Force for Good
Sustainable investing, previously a niche specialization, has become increasingly commonplace in recent years. Globally, more than a quarter of professionally managed assets are now invested according to ESG principles. In addition, many mainstream financial institutions are publicly committing to sustainable investing as the way forward.

Money Managers Eager to Make Leap to Opportunity Zone Investing
Manager interest in launching funds to invest in U.S. low-income communities designated as qualified opportunity zones is running high but the number of funds launched still is low as firms await greater regulatory clarity.

Millennials Show Increasing Interest in Impact Muni Bond
Millennials have an appetite for a slice of the muni bond market when it comes to investments in affordable housing, education or sustainable energy, something experts say is part of a trend of younger investors increasingly seeking those kinds of investments.

Sustainability Execs Share Strategies for New Era of ESG Disclosure
As we look forward to a greener economy in 2019, we asked members of the GreenBiz Executive Network, our member-based, peer-to-peer learning forum for sustainability professionals, to offer their perspective on the greater alignment of investors and companies to accelerate sustainable capital growth.).

A Year in Review: Nasdaq’s ESG Milestones in 2018
Exchanges play a critical role in creating jobs and economic growth around the world. Given our central place in the financial ecosystem, Nasdaq has both the ability and responsibility to direct capital flows toward more sustainable use.

 

United States & Europe
 

The Economy is Finally Coming Through for U.S. Workers
Decent wage gains are showing up in paychecks. That should continue for a while.

 

Developing Economies
 

Trade Tops Emerging-Market Bill with Growth Outlook in Balance
There are few if any stories in emerging markets big enough this week to eclipse the U.S.-China trade meetings in Beijing.

Africa: Regional Integration Key to Africa’s Economic Growth
Integration is an important engine for economic growth, sustainable development and improving the living standards of the African people.

India Has a Growing Impact Investing Industry, but can it Scale?
The growth in India’s mobile phone market has helped an unexpected sector — impact investing.

Indonesia Targets 7 Percent Growth in Agroindustry
The Industry Ministry has targeted an increase of 7.1 percent in the agroindustry in 2019, higher than last year’s 6.93 percent, following a surge in domestic demand.

Vietnam Reaps Sixth Straight Record Year in Foreign Investment
Foreign direct investment in Vietnam climbed 9.1% in 2018 to reach $19.1 billion, the government reports, marking a sixth straight annual record as capital keeps flowing into one of Southeast Asia’s fastest-growing economies.

Bolivia to Lead Economic Growth in South America in 2019
Bolivia will lead again 2019 economic growth in South America, with an expansion of 4.3 percent of its GDP.