Location Montreal, Canada Type of business Privately owned | Founded 1999 | |
Products Emerging Market Private Sector Investments | ||
Cordiant Capital (commonly referred to as Cordiant) is a Montreal-based fund manager specialising in emerging markets.
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Background
Founded in 1999, Cordiant Capital is a manager of emerging market, private sector investments. Cordiant’s funds are primarily focused on providing senior and subordinated debt financing to well established businesses in emerging and high growth markets around the globe.
International Finance Participation Trust
Since the firm’s inception, Cordiant has raised and managed four emerging market debt funds totalling USD 1.44 billion in capital subscriptions.
In 2001, Cordiant raised USD 360 million for its first Emerging Loan Fund, IFPT (2001), from Canadian institutional investors. IFPT (2001) invested in loans to emerging market borrowers. In 2004/05, Cordiant raised USD 370 million for its second Emerging Loan Fund, IFPT (2004), from Canadian, Dutch and British institutional investors. In 2007/08, Cordiant raised USD 460 million for its third Emerging Loan Fund, CELF III, from a broadening group of North American and European institutional investors. Finally in 2013, Cordiant raised USD 250 million at first close for its fourth Emerging Loan Fund, CELF IV from recurring as well as new institutional investors located in Europe and Canada.
From their inception to June 30, 2010, Cordiant’s Emerging Loan Funds have invested a total of USD 1.7 billion in 169 loans. Their portfolios have been diversified across 141 borrowers, 53 countries and 30 sectors.
Canada Investment Fund for Africa
In 2004, Cordiant was selected to co-manage the Canada Investment Fund for Africa (commonly referred to as CIFA). By 2006, USD 212 million had been raised for CIFA, including CAD 100 million from the Canadian government. CIFA provides risk capital to commercially viable businesses across the African continent to generate economic growth, attract investors and build momentum for increased trade and investment throughout the continent, laying the groundwork for greater socio-economic development. CIFA has invested a total of USD 180 million in 16 companies and two regional small and medium enterprise funds operating in eight countries and nine sectors.
ICF Debt Pool
In December 2009, Cordiant was chosen following a competitive selection process to manage the G20-led Infrastructure Crisis Facility-Debt Pool, a newly created fund intended to address the long-term financing vacuum in the emerging markets caused by the ongoing global economic downturn. The €500 million fund was launched at the World Bank’s 2009 Annual Meeting and is aimed at high quality infrastructure projects in the emerging markets. The ICF-Debt Pool is currently funded by the Federal Republic of Germany, acting through KfW. From its inception to June 30, 2010, the ICF-Debt Pool has reviewed 22 infrastructure investment opportunities representing a potential total investment of USD 835 million.