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Microfinance firm BlueOrchard receives $75m commitment from pension fund ABP29/08/2008. Source: AltAssets. 
 Microfinance fund manager BlueOrchard has received a commitment of $75m from Dutch pension fund ABP for its BlueOrchard Private Equity Fund. The fund has assets under management totalling $111m following ABP's commitment. It has a target of $220m, which the firm hopes to reach by the end of 2008.
BlueOrchard Private Equity Fund will target partnerships with microfinance organisations in Latin America, Asia, Eastern Europe and Africa. The fund will look to acquire minority stakes in their capital while also playing an active governance role and taking active part at board level, the firm said in a statement.
The fund is advised by BlueOrchard Investments, the Geneva-based private equity advisory arm of the BlueOrchard, and is incorporated as a special investment fund in Luxembourg.
Since 2005 ABP has invested approximately $40m in BlueOrchard Debt Funds since 2005.
Jan van Roekel, portfolio manager with the asset manager of ABP, said, 'These investments are particularly fit for a pension fund as a risk diversifier. They have so far proven to be relatively non-correlated with most other asset classes and it appeared natural to follow up with an investment in private equity, a most needed form of financing in this industry.'
Jean-Philippe de Schrevel, CEO, BlueOrchard Investments, added, 'We are very proud to be working alongside ABP to fight poverty in the world through microfinance, a grassroots sustainable market-based approach for delivery of financial services to the working poor.'
ABP is the pension fund for employers and employees in service of the Dutch government and the educational sector. With assets of more than EUR 200 billion, ABP ranks among the top three pension funds in the world. All of ABP's assets are managed by a separate pension asset management company.
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