FMO is pleased to announce that the first Participation Agreement was signed between FMO and ILX Management, an Amsterdam based emerging market asset manager, to foster collaboration in increasing private sector mobilization of funds in SDG and climate finance related projects in emerging markets. Through the Participation Agreement, ILX has become the participant in the facility agreements FMO has with two Ecuadorian banks.
ILX' participations in FMO's financing are dedicated to strengthening investor access to opportunities of the development finance asset class, and delivering positive results in sustainability.
Ruhi Cosgun Manager Syndications, FMO and Elvira Eurlings, CIO ILX
ILX Management is the manager of ILX Fund I, emerging market focused private credit funds that invest in loan participations originated and structured by Multilateral Development Banks and other Development Finance Institutions. ILX Fund I launched in January 2022 with a USD 750 million commitment from the Dutch pension provider APG on behalf of pension funds ABP and bpfBOUW.
In June 2022, the Fund reached its target fund size of USD 1 billion with the commitment from Achmea Investment Management on behalf of Pensioenfonds Vervoer, bringing the total fund size to USD 1.05 billion.
FMO looks forward to continuing its working relation with ILX to increase mobilization of private sector funds in emerging markets in the future.
ILX Management B.V. (“ILX”) is the Amsterdam-based manager of emerging market focused private credit fund, ILX Fund I. The fund provides institutional investors access to investment opportunities of the development finance asset class, by investing in private-sector loans arranged by Multilateral Development Banks (MDBs) and Development Finance Institutions (DFIs). The Fund’s investment strategy benefits from the DFI’s experience of investing in EMs, to deliver attractive risk-adjusted returns for its investors, whilst mitigating ESG risks and delivering positive, direct SDG-related results by investing in loans that contribute to the ILX Sustainability Themes.