This page has links to a selection of the mandates I have undertaken in the “impact” or inclusive investing field over the past decade or so. These total over $500 million in a range of fundraising and corporate finance deals, complemented by a number of research projects exploring the infrastructure of the impact sector.
Mandates are summarised below, with further details elsewhere on the site accessible via the “Details” links. In some cases I am not able to disclose the client name or certain transaction details.
My full CV is also available: Ian Callaghan CV 2014-web
Summary Listing (Transaction Type)
Summary Listing (Historical)
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- Corporate Finance / M&A – Kushhali Bank | Sathapana | Tenger | Acleda | Athena | d.light | Global NGO
- Fundraising Mandates – Union Andina | Women’s World Banking | BRAC International Loan Facility | Sustainability Focussed Financial Institutions
- Research Mandates – World Bank Development Marketplace | World Bank Development Marketplace / Tides | Global NGO | India Focussed Foundation
All of these transactions were in microfinance and most of them on the sell side. In almost all cases the disposal took place via a competitive auction process encompassing a number of stages and designed to identify the best possible purchaser not just on the basis of price but also mission fit. In most cases the stakes were sold to strategic investors able to bring the experience and disciplines of mainstream financial markets into the microfinance space.
As well as the transactions mentioned below, we were able to make the introduction that led to the purchase of Kashf Bank in Pakistan, now rebranded as Finca Microfinance Bank Pakistan.
Via these transactions, I have been closely involved in the development of “responsible exit” strategies in microfinance, for some of the most important investors in the sector.
Date: 2011/12 | Country: Pakistan | Sector: Microfinance | Amount in USD: 26 million Clients: United Bank Ltd (UBL), Shorecap II, Incofin, ResponsAbility, Triple Jump
Date: 2012 | Country: Cambodia | Sector: Microfinance | Amount in USD: Not Disclosed | Clients: FMO (Dutch Development Bank), Triodos Investment Management
Date: 2012/13 | Country: Mongolia | Sector: Microfinance | Amount in USD: Not Disclosed | Clients: Bamboo Finance, Triodos Investment Management
Date: 2013 | Country: Cambodia | Sector: Microfinance | Amount in USD: Not Disclosed Client: Triodos Investment Management
Date: In progress, 2014 | Country: Southeast Asia | Sector: Microfinance | Amount in USD: Not Disclosed | Clients: Not disclosed at present
Sale completed, approval awaited by Central Bank.
Date: 2013 | Country: Global | Sector: Clean Energy | Amount in USD: Not Disclosed | Client: d.light Design
Date: In progress, 2014 | Country: 3 countries in E Europe / Middle East | Sector: Microfinance | Amount in USD: Not Disclosed | Client: Global NGO
In these mandates we were charged with fundraising for either vehicles or companies
Date: 2011 | Country: USA/Latin America | Sector: Housing Finance | Amount in USD: 3 million | Client: Union Andina
Date: 2011/12 | Country: Global | Sector: Microfinance | Amount in USD: 30 million | Client: Women’s World Banking
Date: 2013 | Country: Uganda, Tanzania, other Africa | Amount in USD: 17.5 million | Client: BRAC
Date: Current | Country: Global | Sector: Sustainability Focussed Financial Institutions | Amount in USD: 100 million | Client: Not disclosed
These mandates mainly explored the infrastructure of the impact investing space, looking for gaps and potential solutions
Date: 2012 | Countries: Egypt, India, E Africa | Sector: Social Enterprises | Client: World Bank Development Marketplace
Date: 2013/14 | Country: N/A | Sector: Social Enterprise | Clients: World Bank Development Marketplace and Tides Foundation
Date: 2014 | Country: Global | Sector: Charity | Client: Global Humanitarian NGO
Date: 2014 | Country: India | Sector: Social/Impact Enterprise | Client: US foundation
Date: 2009 | Amount: Part of USD 44 million first close | Country: Global | Sector: Micro-insurance
Date: 2009 | Amount: USD 9 million part of first close of USD 13 million | Country: Global | Sector: Microfinance
Date: 2006/7 | Country: Global | Sector: Microfinance | Amount in USD: 100 million / 110 million | Client: Blue Orchard