Global Microfinance Equity Fund grows to $117m in 2yrs

Microfinance Focus, Sep 9, 2010: Global Microfinance Equity Fund (GMEF), a hedge fund incorporated in the Cayman Islands in the year 2008, has grown into a $ 117.5 million fund with a total of 20 investors within a span of two years, as told to Microfinance Focus. GMEF had a first closing in May 2008 of just under $30mm with 12 investors and a final close of $117.5mm in March 2010 with a total of 20 investors.  Investors include both individuals and institutions. Microfinance equity seems to have gotten a big thumbs up from some pretty heavy hitters.

GMEF GP, LLC (Gray Ghost Funds) was established by OGIER FIDUCIARY SERVICE (CAYMAN) LTD which is regulated by the Cayman Islands Monetary Authority. The Ogier goup specialises in the provision of full administration services for private equity, real estate, infrastructure and mezzanine funds.

 For GMEF GP LLC, Ogier established two Cayman Islands exempted limited partnerships in a private equity master-feeder structure, another Cayman Islands exempted limited partnership to act as their general partner and a Cayman Islands exempted company to act as investment manger to the funds. The transaction used all exempted limited partnerships in the fund structure and involved making private equity investments in microfinance institutions with the objective of achieving both capital appreciation and a positive social impact.

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