DWM Advises on Largest Microfinance Private Placement

Sep 2006
Darien, Connecticut , September, 19 2006 - Developing World Markets today announced the closing of the largest private placement ever made by a single investor in the microfinance industry. In the transaction, TIAA-CREF, one of the largest pension funds in the US, invested approximately $43 million in the equity of ProCredit Holding, a privately held German group which is the world’s largest integrated microfinance network. Developing World Markets (DWM) advised ProCredit on the transaction.

DWM Partner Peter Johnson said, “DWM is proud to have brought together two institutions that are leaders in their field. ProCredit will expand its business, enabling small scale entrepreneurs in low-income countries to build viable enterprises and create

employment while, through its investment in ProCredit, TIAA-CREF is fulfilling its mission of providing financial services for the greater good.”

DWM, based in Darien, Connecticut (www.dwmarkets.com) is a financial structuring and advisory firm dedicated exclusively to creating and funding social investments in developing countries through international capital markets.

ProCredit Holding, based in Frankfurt, Germany (www.procredit-holding.com), is the world’s largest microfinance lender. It owns 19 banks in Africa, Latin America and Eastern Europe that provide credit and financial services to micro and small enterprises.

TIAA-CREF, based in New York City (www.tiaa-cref.org), is one of the world’s largest financial services providers with more than $380 billion in combined assets under management (3/31/06). It is a leading provider of retirement and asset management services in the academic, research, medical and cultural fields.

TIAA-CREF's press release is available by following this link:


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