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Deetken Impact and Pro Mujer team up to invest in women and girls, delivering strong financial returns and meaningful, measurable social and environmental benefits. The Overseas Private Investment Corporation has committed $10MM to grow the fund.

New York, NY / June 4, 2019 – Pro Mujer and Deetken Impact have formed a joint venture to manage the Ilu Women’s Empowerment Fund. This fund invests in a diversified portfolio of high impact businesses in Latin America and the Caribbean that promote women in leadership and governance, products and services that meet the needs of women and girls, gender-sensitive value chains and workplace equity.

The Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, has committed U.S. $10MM of senior debt financing to the fund. OPIC’s investment will advance its 2X Women’s Initiative, which has catalyzed more than $1 billion in capital to empower women in developing countries around the world.

“Women in Latin America face steep barriers to full economic empowerment. By partnering with Pro Mujer and Deetken Impact to expand access to products and services that empower low-income
women like financial services and safe housing, OPIC will help equip women with the tools they need to transform their communities.”

Kathryn Kaufman, OPIC Managing Director for Global Women’s Issues.

Pro Mujer and Deetken Impact believe that investing in women is both a smart business strategy and a powerful driver of economic growth and equality. Ilu Women’s Empowerment Fund is a senior and subordinated debt fund whose portfolio investments include financial institutions that provide integrated and thoughtfully designed services for low-income women. These include access to healthcare, educational loans, financial services, technical assistance and gender-smart investments in renewable energy, affordable housing and social enterprises.

“Advancing gender equality means collaborating across private, public and philanthropic sectors. By partnering with Pro Mujer, we are integrating decades of experience serving women and girls in Latin America into investment decision-making. We welcome OPIC’s participation and value their commitment to inspiring other investors to take up the 2X Challenge.”

Alexa Blain, Managing Partner of Deetken Impact.

The target fund size is US $35MM, with US $25 million already committed and US $14 million deployed. After successfully closing the first fundraising round from catalytic investors, including OPIC, Canadian foundations and credit unions, Deetken Impact and Pro Mujer are planning a second round to raise another US $10 million.

“We’ve seen what women in Latin America can accomplish with the right resources. They build stronger lives, families and communities, and create opportunities for other women. We are very excited for this partnership with Deetken Impact, and for the commitment of OPIC towards ensuring the Ilu Women’s Empowerment Fund positively impacts women’s lives and the way businesses and investors commit to gender equal practices.”

Maria Cavalcanti, Pro Mujer’s president and CEO

Deetken Impact and Pro Mujer are mutually committed to supporting women’s empowerment through all their business activities and investment management practices. Learn more about the Ilu Women’s Empowerment fund on the Deetken Impact’s website: https://www.deetkenimpact.com/women-empowerment

About Deetken Impact:

Deetken Impact is a Canadian registered investment fund manager with a 10-year track record of delivering strong, stable returns to investors by supporting businesses that make a meaningful contribution to the Sustainable Development Goals. Deetken currently manages and
co-manages close to $100MM in impact assets, primarily in Latin America and the Caribbean. Deetken Impact is a signatory to the UN Global Compact and a certified B Corporation.
For more information, visit: https://deetkenimpact.com/ or follow on Twitter @DeetkenImpact

About Pro Mujer:

Pro Mujer is a mission-driven women’s development organization committed to positively impacting the lives of its clients and their families. Its integrated approach offers access to finance, health and educational services. These are delivered in supportive social spaces that foster community building and equip women with the resources to help them reach their full potential. Since 1990, Pro Mujer has disbursed over $3.6 billion in loans, provided over 9 million health interventions and reached millions of women across the region. Pro Mujer is headquartered in New York City and currently operates in Argentina, Bolivia, Guatemala, Mexico, Nicaragua and Peru.
For more information, visit http://www.promujer.org or follow on Twitter @promujer

About OPIC:

The Overseas Private Investment Corporation (OPIC) is a self-sustaining U.S. Government agency that helps American businesses invest in emerging markets. Established in 1971, OPIC provides businesses with the tools to manage the risks associated with foreign direct investment, fosters economic development in emerging market countries, and advances U.S. foreign policy and national security priorities. OPIC helps American businesses gain footholds in new markets, catalyzes new revenues and contributes to jobs and growth opportunities both at home and abroad. OPIC fulfils its mission by providing businesses with financing, political risk insurance, advocacy and by partnering with private equity fund managers. OPIC services are available to new and expanding businesses planning to invest in more than 160 countries worldwide. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers. All OPIC projects must adhere to best international practices and cannot cause job loss in the United States.
For more information, visit https://www.opic.gov or follow on Twitter @opicgov.

For media inquiries, please contact:

Maria Paula Cardona – Sr. Global Communications Director, Pro Mujer | +1 (305) 766-3210 | maria.cardona@promujer.org

Magali Lamyin – Director of Communications and Development, Deetken Impact | +1 (604) 731-4424 | impact@deetken.com

Laura Allen – Press Secretary, OPIC | +1 (202) 357-3976 | laura.allen@opic.gov


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Magali Lamyin, Director of Communications and Development for Deetken Impact

MAGALI LAMYIN

Director of Communications and Development

 

Magali brings extensive market intelligence, business development and marketing experience from her work at the Central Bank of Mexico, the Canadian Institute for Market Intelligence, and the IESE-PWC e-Business Centre in Barcelona. She also co-led national marketing campaigns for businesses in the hospitality and early childhood education sectors for almost a decade before joining Deetken. In her current role, she is responsible for leading Deetken Impact’s communications, marketing and branding strategy. She is also involved in the due diligence process for project selection with an emphasis in Mexico.

Magali holds a BA in Economics from Mexico's ITAM and a Master's degree in Economics from the University of British Columbia.

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Jose Lamyin, Managing Partner Deetken Impact

JOSE LAMYIN

Managing Partner

 

José has extensive experience as a business advisor for clients throughout Canada, Europe and Latin America in mining, telecommunications, and finance. Prior to co-founding The Deetken Group, José worked for Teck Cominco in Peru and Canada and Deutsche Bank in London (UK). José has spearheaded much of the strategic growth of Deetken Asset Management since inception and is currently focused on investment selection.

José received his BS in Engineering from the University of British Columbia and MBA from IESE School of Business (Barcelona). Born in Peru, José is fluent in English and Spanish.

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Alexa Blain, Managing Partner Deetken Impact

ALEXA BLAIN

Managing Partner

 

Alexa is responsible for finance, operations and investor relations at Deetken Impact. She brings over 10 years of experience in financial consulting and asset management, with specific expertise in company and investment analysis, business valuation and securities/corporate finance. Prior to joining Deetken, she spent three years with African Alliance, a pan-African financial services group, where she focused on expanding the firm’s retail financial services operations as well as on the origination and negotiation of new capital. In addition, Alexa has six years of asset management experience with the Canada Pension Plan Investment Board, the Macquarie Group and the Ontario Teachers’ Pension Plan.

Alexa is a CFA Charterholder. She has also completed an MA in Financial Economics and an Honours BA in Economics, both at the University of Toronto.

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Fernando Alvarado, Head of Deetken Impact Sustainable Energy

FERNANDO ALVARADO

CEO

Honduras Renewable Energy Managers (HREM) and Caribbean Renewable Energy Managers (CAREM)

 

Fernando Alvarado leads the General Partner and Investment Advisor of two clean energy and energy efficiency project finance and venture capital funds: Honduras Renewable Energy Financing Facility (H-REFF) and Caribbean Basin Sustainable Energy Fund (CABEF), which he structured and runs with a combined target capitalization of $100m.

Development Investment Banker with 28 years of international credit and investment experience and 18 years of direct experience assessing diversified renewable energy portfolios in Latin America & the Caribbean. He has participated in more than 50 syndicated credit and investment transactions for renewable energy projects in excess of $250 MM. He led the creation, structuring, fundraising, legal closing and portfolio construction of several specialized renewable energy funds.

Costa Rican, based in San Jose, Mr. Alvarado has an MBA in Banking and Finance cum laude from Universidad de Costa Rica.

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Carl Black, Portfolio Manager Deetken Impact

CARL BLACK

Portfolio Manager

 

Carl is a Portfolio Manager with Deetken Impact focused on analyzing and working with MSMEs, social enterprises, and renewable energy developers in Latin America and the Caribbean. His main responsibilities include supporting business development, managing technical assistance projects, leading investment due diligence, and monitoring portfolio performance. Prior to joining Deetken Impact, Carl worked for five years as a consultant, advising public sector clients an non profits in Canada and financial services companies in Latin America. He started his career at the Bank of Canada, where he researched issues related to household and business credit. 

Carl completed an Honours BA in Economics at the University of British Columbia. He also holds an MSc in Economics & Development from the University of Oxford, where he earned distinctions in quantitative and development economics.

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Cristobal Aguirre, Investment Analyst at Deetken Impact

CRISTOBAL AGUIRRE

Investment Analyst

 

Cristobal has over 6 years of experience in the asset management industry, where his responsibilities have ranged from asset allocation and portfolio management to risk analysis and software development. Before relocating to Canada, Cristobal worked as a senior investment analyst in AFP Habitat—Chile’s largest pension fund—where he led the tactical asset allocation and macroeconomic research for emerging markets.

Cristobal is a CFA Charterholder, and completed a BA in Economics at Universidad de Chile.

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Chad Parsons, Senior Investment Analyst at Deetken Impact

CHAD PARSONS

SeniorInvestmentAnalyst

 

Chad has worked as a consultant in business and technology for 20 years – often helping clients with their business transformation initiatives.    He has worked with start-ups, government, and established businesses to further their product and service offerings with a balanced approach.   After pursuing a research degree on leveraging technology for social and economic development; Chad has found a valuable alignment of his background with Deetken’s innovative impact investments. 

Chad completed a BS in Engineering from the University of British Columbia and has a MSc with distinction from the University of Manchester (UK).

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