February 14, 2008
Paul Hastings Represents Catalyst Microfinance Investors in Securing Largest to Date Capital Commitment to Microfinance
Washington, D.C. (February 14, 2008) Paul, Hastings, Janofsky & Walker LLP, a leading international law firm, announced today that the firm represented private equity fund Catalyst Microfinance Investors (CMI), in securing a $125 million collective equity capital commitment from leading international institutional and private investors including ABP, the Dutch pension fund, and TIAA-CREFF, the US investor financial services organization. The deal, which closed on February 8, 2008, marks the largest collective equity capital commitment to microfinance to date.
CMI intends to use most of the funds for the rapid establishment and growth of ASA International, one of CMIs major investment vehicles, in the largest microfinance markets in Asia and Africa.
Washington, D.C. partner Jorge Alers led the Paul Hastings team, which included associates Raquel Bierzwinsky, Alishia Sullivan and of Counsel Wendel Faria. They were assisted by the Atlanta tax team of partner Phil Marzetti and associate Jason Cordon.
About Catalyst Microfinance Investors: CMI is a private equity investment fund managed in partnership by ASA of Bangladesh and Sequoia B.V. (an independent, international corporate finance advisory and investment firm based in the UK and the Netherlands), and is dedicated to investing in emerging, fast-growing microfinance institutions throughout Asia and Africa. CMI and ASA International have already commenced operations in Cambodia, Ghana, India, Nigeria, Pakistan, the Philippines, and Sri Lanka, and expect to become operational in China and Indonesia later this year.
Paul, Hastings, Janofsky & Walker LLP, founded in 1951, is a leading international law firm with over 1,200 attorneys in 18 offices. The firm serves a diverse client base including many of the leading global financial institutions and Fortune 500 companies and offers deep capabilities in capital markets, finance and restructuring, intellectual property, international arbitration and dispute resolution, investment management, labor and employment, mergers and acquisitions, private equity, product liability, project finance, real estate, securities litigation and tax advisory services. For additional information, please visit our website at www.paulhastings.com.