Cordiant
Suite 2800 1002 Sherbrooke Street West, Montréal, QC, H3A 3L6, Canada
Overview
Cordiant is an industry-focused investor offering sophisticated institutional clients access to certain private debt, private equity and alternative strategies. Founded in 1999, Cordiant is a pre-eminent manager of emerging market, private sector investments. With more than USD 2.4 billion in capital subscriptions across six emerging market debt and equity funds, Cordiant counts amongst its clients some of the world’s largest institutional investors. Cordiant has been successfully investing across the emerging markets for a decade. From these regions ripe with opportunity, Cordiant offers institutional investors efficiently managed and cost effective access to high quality, income-generating investments with superior risk/return profiles throughout Asia, Eastern Europe, Latin America and Africa
- Total investments
- 1
- Lead investments
- 1
- Investments · 12mo
- 0
- Active investors
- 0
Sector focus
- Finance
- Financial Services
- Venture Capital
Investment portfolio
- Real People Home Finance
Led · Debt Financing · Jan 2008
Real People focuses on providing “responsible finance” through its Housing and SME lending businesses in South Africa and East Africa and on purchasing and collecting non‑performing debt portfolios via its DMC brand in South Africa. Over the past 18 months the Group closed its general purpose unsecured lending and cellular retail businesses and refocused its lending strategy exclusively on economically productive housing and SME finance. The Group implemented a significant cost reduction and rationalisation programme that reduced headcount by almost 25% and made material changes to accounting estimates for financial assets due to deteriorated collections and shifts in market practice. It recently completed an equity capital raise that improved the Group’s capital base by approximately R385 million. The capital raise was largely supported by existing shareholders together with the Soros Economic Development Fund. With capital adequacy now above the minimum levels required by its funding covenants and ongoing operations delivering profits on a monthly basis, the Group reports collections and portfolio quality as largely stable and improving and is positioned to access funding lines from developmental finance institutions to resume balance sheet growth. Real People focuses on the acquisition and management of personal credit risk and offers unsecured personal loans to fund education, home improvements and other household needs in South Africa and Sub‑Saharan Africa. The group announced a US$20 million facility provided via a Cordiant and FMO funded risk participation agreement to grow its unsecured credit book across South Africa and other African outlets. This financing represents the company’s first direct access to North American capital and is described as a vote of international confidence in its credit model. Management highlighted that ongoing access to funding is critical to maintaining the company’s growth path while upholding prudent solvency margins. Since April 2007 the group has secured new funding facilities of approximately R1 billion, which the company says supports its ability to continue expansion without compromising solvency. Real People also emphasizes its ongoing relationship with FMO, a stakeholder, as strategic support for serving previously neglected markets in Africa.
Team
No current team members are available.