News & Analysis

In brief: BII, Nordic Development Fund commit to BlueOrchard climate insurance PE fund

The fund is approaching its $100m target and will close later this year, according to a statement.

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BlueOrchard, the impact firm subsidiary of Schroders, has raised over $90 million for its climate insurance private equity fund, according to a statement.

InsuResilience Investment Fund Private Equity II came to market in 2022, anchored by German bank KfW. Its mandate is to invest in companies providing insurance to climate-vulnerable populations in Asia, Africa and Latin America.

British International Investment has committed $15 million. The Nordic Development Fund has committed $13.5 million, with an additional $1 million as a grant for the fund’s technical assistance facility.

The fund has a target size of $100 million. Final closing will be in the second half of 2024, per the statement. InsuResilience Fund I, IIF’s predecessor, closed in 2020 on $80 million with commitments from KfW, the Soros Economic Development Fund, the European Investment Bank and Swiss pension fund Stiftung Abendrot.