24 January 2013
Press Release - Finance in Motion reports successful 2012
For Finance in Motion, a global leader in asset management and technical assistance for development finance, 2012 marked yet another successful year since its incorporation in 2009. As at 31 December 2012, assets under management were up 12% to EUR 952 million for the year (net of cash). 2012 also saw the opening of two new offices in Kyiv, Ukraine, and Tbilisi, Georgia, as well as a 28% increase in staff numbers to a total headcount of more than 100. Finance in Motion has over EUR 1.1 billion of investor commitments under management (as at 31 December 2012), working with a group of more than 30 public and private investors. Finance in Motion currently provides asset management and technical assistance management services to the following development finance vehicles: the European Fund for Southeast Europe (EFSE), the Green for Growth Fund, Southeast Europe (GGF), and the SANAD Fund for MSME (micro, small and medium enterprises).
As at 31 December 2012, the European Fund for Southeast Europe (EFSE) financed approximately 111,000 active subloans to micro and small entrepreneurs through its investment activities with 67 financial institutions, a 6% increase from 2011. The EFSE is dedicated to providing sustainable funding to micro and small enterprises, as well as to low-income private households in Southeast Europe and in the European Eastern Neighbourhood Region.
The Green for Growth Fund, Southeast Europe (GGF) expanded its activities into the Caucasus, Ukraine and Moldova in 2012. Already, the GGF has closed first deals with new partner institutions in the region. Through its energy efficiency and renewable energy financing activities, the GGF has contributed towards savings of almost 100,000 tons of CO2 emissions and a reduction of approximately 400,000 MWh in primary energy consumption annually throughout the region. The GGF promotes the development of energy efficiency (EE) and renewable energy (RE).
Created in 2011, the SANAD Fund for MSME already counts 5 partner institutions in the MENA region, including financial institutions in Lebanon, Jordan and Palestinian Territories. The SANAD Fund for MSME focuses on development finance in the Middle East and North Africa (MENA) region.
“The continued confidence of our investors in our skills at managing these development funds, especially in difficult economic times, is a source of great pride”, says Sylvia Wisniwski, Managing Director at Finance in Motion. “With a total of EUR 186 million invested, the EFSE registered net investment portfolio growth of EUR 71 million (+9.7%), whilst the GGF’s investment portfolio grew 127.6%, from EUR 57.5 million at the end of 2011 to EUR 131 million at year-end 2012.”
Finance in Motion’s organisation grew as well as in 2012. In addition to new offices in Kyiv (3 staff) and Tbilisi (2 staff), 15 additional staff were hired to strengthen all departments including the head office in Frankfurt. Both in terms of assets under management as well as staff number, Finance in Motion is among the top 3 asset managers specialized in development finance globally.
About Finance in Motion
Finance in Motion is an alternative asset manager exclusively focused on development finance, and manages investment vehicles to promote sustainable economic, social and environmental development. Finance in Motion specialises in professional investment and technical assistance management services, with a focus on micro, small and medium enterprise finance, on housing finance, as well as on energy efficiency and renewable energy finance in developing countries and emerging markets. Finance in Motion has offices in Frankfurt/Main, Germany, and in a further 10 cities in the Southeast Europe, Caucasus, Middle East and North Africa regions. Finance in Motion currently provides asset management and technical assistance management services to the following development finance vehicles: the European Fund for Southeast Europe (EFSE), the Green for Growth Fund, Southeast Europe (GGF), and the SANAD Fund in the MENA Region.
Merle Roemer, Manager Communications
Tel: +49 (0)69 / 977 876 50-171
Fax: +49 (0)69 / 977 876 50-10