Swiss impact investor Blue Earth Capital has announced raising $108.5 million in total for its second dedicated credit impact fund, surpassing its $100-million target.
The fund, BlueEarth Credit Strategies II, will invest across impact sectors and growth markets with a diversified credit investment strategy, according to the announcement. Its geographic coverage includes Africa, the Americas, and Asia.
The commitments for the fund came from a diverse base of LPs and investors, including the US International Development Finance Corporation. So far, BlueEarth Credit Strategies has made three exits and realised returns above 12% IRR.
The fund allocates capital across the credit spectrum in industries including financial inclusion, agribusiness, affordable housing, energy access, and healthcare.
The final close of the fund brings Blue Earth’s total assets under management to $1 billion across its different investment vehicles.
“BlueEarth Credit Strategies II is an evolution of Blue Earth Capital’s successful integrated strategy that combines private credit, private equity, and funds,” said Amy Wang, the firm’s head of private credit.
Blue Earth Capital is a global specialist impact investor headquartered in Switzerland, with operations in New York, London, and Konstanz. It seeks to address the world’s most pressing social and environmental challenges by delivering measurable impact alongside financial returns.
The impact investor has been active in Asia. In July, it committed $17 million to funds managed by Quadria Capital, the Singapore-headquartered PE firm looking to raise $800 million for its third fund.
Blue Earth Capital also committed $10 million in the growth equity vehicle of Bangkok-based PE firm Lombard Asia. The fund, Lombard Asia V, invests in Thailand, Cambodia, Laos, Myanmar, and Vietnam.
The firm is owned by the Blue Earth Foundation, a Stiftung (charity/trust) registered in Switzerland that focuses on deep impact to support initiatives and business ventures.
