Swiss Investment Fund
for Emerging Markets

Search
Close this search box.

Ashmore Avenida EEAHF III

AshmoreAVENIDA is a Latin America real estate manager currently raising Ashmore Avenida LatAm Energy Efficient Affordable Housing Fund III with a USD 150m target. The Fund will build two types of greenfield real estate projects in Colombia and Peru, two SIFEM target countries. Most of the projects will focus on low-income residential units for sale located in urban centers close to employment and educational hubs. In addition, it will develop quality complimentary social infrastructure assets in the healthcare and education sectors in the same urban low-income neighborhoods (only in Colombia). The Fund’s strategy will have important economic, social, and ecological positive impacts and contributes to SDGs 7, 10 and 11. SIFEM has committed USD 15m alongside EIB who acts as anchor investor.

Ashmore Avenida EEAHF III

AshmoreAVENIDA is a Latin America real estate manager currently raising Ashmore Avenida LatAm Energy Efficient Affordable Housing Fund III with a USD 150m target. The Fund will build two types of greenfield real estate projects in Colombia and Peru, two SIFEM target countries. Most of the projects will focus on low-income residential units for sale located in urban centers close to employment and educational hubs. In addition, it will develop quality complimentary social infrastructure assets in the healthcare and education sectors in the same urban low-income neighborhoods (only in Colombia). The Fund’s strategy will have important economic, social, and ecological positive impacts and contributes to SDGs 7, 10 and 11. SIFEM has committed USD 15m alongside EIB who acts as anchor investor.

About the fund

The Fund is in outstanding alignment with SIFEM strategic objectives, both from a social and environmental perspective by addressing climate change mitigation & adaptation, financial inclusion, and gender equality simultaneously.

The pandemic hit both target countries, Colombia and Peru, heavily in terms of job losses. Construction being one of the main economic sectors, the Fund’s activities will contribute to job creation, particularly for lower-income people. The housing projects will be suited for lower-income families, and especially for single mother-headed households, qualifying the Fund for the 2X Challenge. The housing projects will be located in more centralized urban areas closer to jobs and social infrastructure. This means less commuting and in combination with energy-efficient constructing it will contribute to the climate mitigation objective.

SIFEM’s investment is catalytic since it helps the fund to reach the first closing faster and mobilize local private sector capital more easily.

Reference code
2022-01
Status
Committed
Date of commmitment
July 2022
Date of exit
-
Fund size
USD
150,000,000
SIFEM commitment
USD
15,000,000
Asset class
Private Equity
Investment strategy
Investment through Fund
Fund manager
Ashmore Avenida