Gramercy invests $34 mln in Grupo Credivalores

Grupo Credivalores said Monday that it has received $34 million in funding from Gramercy Funds Management. Based in Columbia, Grupo Credivalores is a consumer finance firm.


GREENWICH, Conn., Sept. 29, 2014 /PRNewswire/ — Gramercy Funds Management LLC (“Gramercy”), a $4.2 billion dedicated emerging markets investment manager, announced a USD $34 million investment in Credivalores-Crediservicios, its affiliates and subsidiaries (“Grupo Credivalores” or “the Group”), the leading independent consumer finance company in Colombia and one of the country’s fastest growing non-banking financial institutions.

Grupo Credivalores is comprised of four complementary companies including: Credivalores (non-regulated consumer finance company), Credifinanciera (regulated consumer finance company), Microfinanzas & Desarrollo (microfinance company), and Proteccion Garantizada (micro-insurance broker). The Group offers credit to the low and middle income population in Colombia equal to 7.1 million potential customers or 70% of the population through different credit alternatives with a regional footprint comprised of 43 offices and 48 service points in 41 cities in Colombia. Credivalores’ loan portfolio includes payroll lending, utility-collected credit cards, financing of insurance premiums and micro-lending. As of June 30, 2014, the Company had a total loan portfolio of COP 890 billion ($474 million) and 323,000 active clients.

“We are pleased to partner with a world class entrepreneur like David Seinjet, founder and President of Grupo Credivalores,” said Robert Koenigsberger, Gramercy’s Managing Partner and Chief Investment Officer. “Gramercy has a long history of investing in Latin American corporates through several economic cycles. Our capitalization will fund an upgrade of the Group’s entire technology platform combined with several initiatives, including strengthening the management team, improving the capital structure, reducing funding costs, increasing commercial efforts, and increasing market share.”

About Gramercy:
Gramercy is a $4.2 billion dedicated emerging markets investment manager based in Greenwich, CT with offices in London, Hong Kong, Singapore, Mexico City and Silicon Valley with a presence in Lima and Buenos Aires. The firm, founded in 1998, seeks to provide investors with superior risk-adjusted returns through a comprehensive approach to emerging markets supported by a transparent and robust institutional platform. Gramercy offers both alternative and long-only strategies across all asset classes (USD debt, local currency debt, high yield corporate debt, distressed debt, equity, private equity and special situations).