Blue Earth Capital is among the LPs in Creation Investments’ $270 million vehicle for the “unbanked and underbanked”. This is the fifth flagship fund from Creation, a private equity firm focused on social impact in emerging markets. Creation had targeted $300 million for the fund, as New Private Markets previously reported.
It received commitments from several fund of fund managers including 57 Stars and Ascension Investment Management. Blue Earth invested $16 million from its social impact emerging markets strategy, which raised $360 million earlier this year.
Creation’s fund – already 60 percent invested – addresses financial inclusion in Mexico and India with investments in “basic banking, insurance, fintech-enabled affordable housing, motor vehicle, micro, small- and medium-enterprise lending, education finance and supply chain finance”, according to a statement from Creation.