In brief: Schroders’ BlueOrchard launches $300m Article 9 fund

Impact firm BlueOrchard is targeting $300 million for its second private equity vehicle, the BlueOrchard Financial Inclusion Fund, a source familiar with the matter told New Private Markets.

The fund is focused on financial inclusion in emerging markets and will be compliant with Article 9 of the EU’s Sustainable Finance Disclosure Regulation, according to a statement from BlueOrchard, which did not disclose the target.

“This strategy enables us to further accelerate the expansion and digitisation of leading financial institutions, while driving the inclusion of millions of entrepreneurs and individuals in the financial system,” chief executive Philipp Mueller said in the firm’s statement.

BlueOrchard’s first private equity fund – the climate-focused InsuResilience fund – raised $80 million, the source told NPM. That fund launched in 2015 and is now fully invested, the source said. Investors in the InsuResilience fund include German bank KfW, the Soros Economic Development Fund and Swiss pension fund Stiftung Abendrot, according to affiliate publication Private Equity International’s database (registration required).

A spokesperson for BlueOrchard declined to comment for this article.