Cordiant Capital Inc.

Type Privately owned
Founded 1999
Products Emerging Market Private Sector Investments
Location Montreal, Canada

Cordiant Capital (commonly referred to as Cordiant) is a Montreal-based fund manager specialising in emerging markets.

Background

Founded in 1999, Cordiant Capital is a manager of emerging market, private sector investments.[1] Cordiant’s funds are primarily focused on providing senior and subordinated debt financing to well established businesses in emerging and high growth markets around the globe.[2]

Investment Funds

Emerging Market Debt Funds

Cordiant Emerging Loan Fund IV, FCP

Vintage 2013
Focus Emerging Markets Senior and Subordinated Loans
Size USD 250,000,000 at first close

Cordiant Emerging Loan Fund III, LP

Vintage 2007
Focus Emerging Markets Senior and Subordinated Loans
Size USD 460,000,000

International Finance Participation Trust (2004)

Vintage 2005
Focus Emerging Markets Senior Loans
Size USD 370,000,000

International Finance Participation Trust

Vintage 2001
Focus Emerging Markets Senior Loans
Size USD 360,000,000

Since the firm’s inception, Cordiant has raised and managed four emerging market debt funds totalling USD 1.44 billion in capital subscriptions.

In 2001, Cordiant raised USD 360 million for its first Emerging Loan Fund, IFPT (2001), from Canadian institutional investors. IFPT (2001) invested in loans to emerging market borrowers.[3] In 2004/05, Cordiant raised USD 370 million for its second Emerging Loan Fund, IFPT (2004), from Canadian, Dutch and British institutional investors.[4] In 2007/08, Cordiant raised USD 460 million for its third Emerging Loan Fund, CELF III, from a broadening group of North American and European institutional investors.[5] Finally in 2013, Cordiant raised USD 250 million at first close for its fourth Emerging Loan Fund, CELF IV from recurring as well as new institutional investors located in Europe and Canada.[6]

From their inception to June 30, 2010, Cordiant’s Emerging Loan Funds have invested a total of USD 1.7 billion in 169 loans. Their portfolios have been diversified across 141 borrowers, 53 countries and 30 sectors.

Emerging Market Private Equity Funds

Canada Investment Fund for Africa

Vintage 2006
Focus Pan African Private Equity
Size USD 212,000,000

In 2004, Cordiant was selected to co-manage the Canada Investment Fund for Africa (commonly referred to as CIFA).[7] By 2006, USD 212 million had been raised for CIFA, including CAD 100 million from the Canadian government.[8] CIFA provides risk capital to commercially viable businesses across the African continent to generate economic growth, attract investors and build momentum for increased trade and investment throughout the continent, laying the groundwork for greater socio-economic development. CIFA has invested a total of USD 180 million in 16 companies and two regional small and medium enterprise funds operating in eight countries and nine sectors.

The Infrastructure Crisis Facility Debt Pool[9]

ICF Debt Pool

Vintage 2009
Focus Global Infrastructure Senior and Subordinated Loans
Size EUR 500,000,000

In December 2009, Cordiant was chosen following a competitive selection process to manage the G20-led Infrastructure Crisis Facility-Debt Pool,[10] a newly created fund intended to address the long-term financing vacuum in the emerging markets caused by the ongoing global economic downturn. The €500 million fund was launched at the World Bank’s 2009 Annual Meeting and is aimed at high quality infrastructure projects in the emerging markets. The ICF-Debt Pool is currently funded by the Federal Republic of Germany, acting through KfW. From its inception to June 30, 2010, the ICF-Debt Pool has reviewed 22 infrastructure investment opportunities representing a potential total investment of USD 835 million.

References

  1. ↑ Barry Critchley (April 15, 2013). "Montreal’s Cordiant Capital, an investor in emerging market debt, raises US$250-million". Financial Post.
  2. ↑ "Company Overview of Cordiant Capital Inc.". Bloomberg Business. October 6, 2015.
  3. ↑ http://web.archive.org/web/20101212084402/http://www.cordiantcap.com:80/en/news/Macdonald_article.htm. Archived from the original on December 12, 2010. Retrieved November 11, 2010. Missing or empty |title= (help)
  4. ↑ http://web.archive.org/web/20110708192210/http://www.cordiantcap.com/en/news/critchley_article.htm. Archived from the original on July 8, 2011. Retrieved November 11, 2010. Missing or empty |title= (help)
  5. ↑ "Have Loan, Will Travel: Cordiant Expands Frontiers". FINalternatives. October 12, 2007.
  6. ↑ http://web.archive.org/web/20160303234622/http://www.pehub.com/196390/cordiant-raises-250m-fourth-fund/. Archived from the original on March 3, 2016. Retrieved April 22, 2013. Missing or empty |title= (help)
  7. ↑ "The Canada Investment Fund For Africa". CIFA. Retrieved August 28, 2015.
  8. ↑ "Actis, Cordiant close Canada Investment Fund for Africa on US$212m". AltAssets Private Equity News. July 31, 2006.
  9. ↑ http://web.archive.org/web/20110727174400/http://www.pidg.org/organisationProfile.asp?NavID=40&step=4&contentID=177. Archived from the original on July 27, 2011. Retrieved November 11, 2010. Missing or empty |title= (help)
  10. ↑ Steve Ladurantaye (December 1, 2009). "Cordiant scores with World Bank fund". The Globe and Mail.
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