The initiative is supported by a private debt investment vehicle which targets up to $2 billion in commitments, with Tokio Marine Group as the anchor investor in a $300 million first closing.
The investment vehicle is evergreen, allowing investors to subscribe and redeem on an ongoing basis while reinvesting capital into new investments to continuously recycle funds subject to predefined redemption windows. It is designed for private investors, including pension funds, insurers, and sovereign wealth funds, seeking long-term private credit exposure.
“Emerging markets need trillions of dollars to invest in their development—far more than public finance can supply,” said Makhtar Diop, IFC Managing Director. “This initiative with BlueOrchard and Tokio Marine Group creates a scalable way to connect institutional capital with businesses that create jobs, expand opportunities and improve lives in the places that need it the most.”
“Institutional investors are increasingly looking for long-term private credit opportunities that combine returns and diversification with access to emerging markets,” said Michael Wehrle, CEO of BlueOrchard. “With 25 years of experience investing across these markets and building diversified and resilient portfolios, we can provide that access at scale while directing capital to where it can have meaningful impact.”
IFC is delighted to launch this initiative with BlueOrchard and longstanding partner Tokio Marine Group, which has supported IFC’s efforts to mobilize private capital across emerging markets over many years.
“This investment marks a natural next step in Tokio Marine Group’s longstanding partnership with IFC. Combining IFC’s origination capabilities with BlueOrchard’s 25-year track record in managing diversified emerging market debt portfolios gives us access, at scale, to a segment of private credit that has traditionally been difficult for institutional investors to reach. We are pleased to deepen our collaboration with IFC and BlueOrchard through this investment. We are proud to bring our long-term institutional capital to this initiative, which will help support sustainable and resilient economic growth and create jobs in emerging markets,” said Masahiro Koike, Group CEO, Tokio Marine Holdings, Inc.
Emerging market debt fundamentals have strengthened significantly over the past two decades, supported by improved regulation, stronger governance, and declining default rates. Against this backdrop, the investment vehicle provides institutional investors with a timely and efficient way to deploy capital and scale exposure to emerging market credit.
The investment vehicle turns IFC’s Managed Co-Lending Portfolio Program (MCPP) into a next-gen model that caters to a broader investor base. Launched in 2013, MCPP is a flagship syndications platform with over $25.5 billion in capacity and enables partners to co-invest alongside IFC on commercial terms while gaining exposure to high-quality emerging market loans.
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For IFC:
In Washington D.C.
Hlazo Mkandawire
E-mail: hmkandawire@ifc.org
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2025, IFC committed a record $71.7 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.
Stay Connected with IFC on social media
For BlueOrchard:
In Zurich
Tahmina Theis
E-mail: tahmina.theis@blueorchard.com
About BlueOrchard Finance Ltd
BlueOrchard is a leading global impact investment manager with a long-standing track record of delivering financial returns alongside measurable social and environmental outcomes. Established in 2001 as part of a United Nations initiative, the firm has been a pioneer in impact investing, with a particular focus on emerging and frontier markets. With more than two decades of experience, global reach and deep local expertise, BlueOrchard offers a broad range of impact investment strategies designed to meet the needs of institutional, private, and public investors. These solutions provide access to high-growth markets while supporting job creation and sustainable economic development. The firm has invested billions of dollars across more than 100 countries, benefiting millions of underserved micro-, small- and mid-sized enterprises. As part of Schroders, a global asset manager with a heritage spanning over 200 years, BlueOrchard combines specialist impact investing capabilities with institutional-grade infrastructure and governance. For additional information, please visit: www.blueorchard.com.
About Tokio Marine Group
Tokio Marine Group is one of the world’s largest global insurance and risk players with a network encompassing Japan and 56 countries and regions worldwide, and over 65,000 employees. Tokio Marine Group has the capabilities to drive genuine positive change through a business model grounded in a sense of purpose and social responsibility, built on nearly 150 years of history and an enduring culture that fosters innovation and expertise. Composed of a diverse range of insurance and solutions businesses across the world, we provide our clients and communities with the security they need to move forward, while working to create more resilient societies and a better tomorrow.
Key companies within the Group include Tokio Marine & Nichido Fire Insurance Co., Ltd. (“TMNF”), Japan’s leading non-life insurer, and HCC Insurance Holdings, Inc. (“TMHCC”), a leading specialty insurance group headquartered in the United States.
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