Who we are

EDFI Management Company


Mandate

EDFI Management Company (EDFI MC) was established in 2016 on behalf of EDFI’s members, as a full subsidiary of the EDFI Association in Brussels.

EDFI MC delivers development finance solutions that enable European DFIs, development banks and private sector investors to increase the scale and impact of their work. The company focuses on business models, technologies and geographies where other investors have not been able to operate at the desired scale given their resources and investment criteria.

EDFI MC VISION: to improve people’s lives in countries where the need is greatest through growth in private sector enterprises that deliver high development impact.

EDFI MC MISSION: to deliver development finance solutions that enable DFIs and private sector investors to invest more and in higher risk projects than they would otherwise be able to do.

EDFI MC structures its offering across three different product lines:

  1. Co-financing Facility Management. In line with EDFI MC mandate to promote partnerships and closer cooperation with the EU, it manages co-financing facilities involving AFD and EIB. EDFI MC ensures the coordination of joint investments through the European Financing Partners (EFP) and the Interact Climate Change Facility (ICCF). It offers swift and efficient administration of the co-investment process. This system enables DFIs to invest more easily alongside one-another and help mobilise funds to deliver larger-scale projects.
  2. Risk Sharing Facility Management. As a multi-stakeholder platform, EDFI MC facilitates access to EU risk sharing programs for all the DFIs to create incentives for additional investments while ensuring that no single member enjoys an unfair advantage. EDFI MC manages and coordinates the use of these facilities that benefit from concessional financing so that all European DFIs can obtain access to blended finance on par with multilateral DFIs.
  3. Blended Finance Facility Management. EDFI MC focuses on sectors, such as renewable energy or smallholder finance, that share a common interest among DFIs, that present extraordinary social and environmental benefits and where there is currently insufficient capital in the market. Through the ElectriFI and AgriFI facilities, EDFI MC provides early-stage businesses operating in developing countries with equity and long-term debt financing.

 

Governance

The EDFI Management Company is registered as a legal entity under the laws of Belgium.
It is a subsidiary fully owned and controlled by the EDFI Association (BIO, the Belgian DFI holds a 1% stake for legal reasons).

The strategic direction for the Management Company is set by EDFI on behalf of its members and is aligned with their interests. The Board of Directors of the Management Company consists of up to 7 members, is nominated by the Board of Directors of EDFI, and includes one EDFI Board Director. It is chaired by EDFI’s General Manager and carries out internal control based on regular reporting. Most board members are appointed at the investment executive level.

The Managing Director is responsible for the daily operations, overseeing programmes, and developing the company’s capacities and opportunities for new mandates.

Building on the collective knowledge and experience of EDFI members to develop EDFIMC business and support successful delivery is a key to its success. EDFIMC engages actively with EDFI members and shares its investment plans and opportunities for cooperation.

Board members

Søren Peter Andreasen

General Manager, EDFI & Chairman, EDFI MC

Søren Peter Andreasen
General Manager, EDFI & Chairman, EDFI MC

Søren Peter Andreasen is the General Manager of EDFI. Before joining EDFI in 2016, Søren worked for 15 years in the consulting industry with a specialisation in development, finance, and investment in emerging markets. Søren holds a master’s degree in public policy from Harvard University. He started his professional career with the United Nations (UN) Secretariat in New York before he joined McKinsey & Company in Copenhagen and subsequently co-founded the consulting firm Dalberg Global  Development Advisors.

Helena Arlander

Director, Alternate to the MD, Finnfund

Helena Arlander
Director, Alternate to the MD, Finnfund

Yvonne Bakkum

Managing Director, FMO Investment Management

Yvonne Bakkum
Managing Director, FMO Investment Management

Yvonne Bakkum has been the Managing Director and Chair to the Management Board since October 2012. With the team, she is responsible for FMO’s institutional fund management business. Since 2018 she is a Supervisory Board Member of Climate Fund Managers, the management company of Climate Investor One. In March 2019 she joined the Investment Advisory Committee of Menzis, a medium sized health insurance company in The Netherlands, as an expert advisor. Upon joining FMO in 2001, Yvonne worked for 4 years as Senior Investment Officer and Manager Business Development Latin America, where she was responsible for acquisition, structuring and monitoring of structured finance transactions in the Andean and Mercosur countries. Yvonne started her career with ABN AMRO Bank in 1992, where she held various positions with a focus on corporate finance and project finance in emerging markets. She holds a Masters’ degree in Business Economics from Erasmus University Rotterdam.

Pierre Forestier

Director TA - Blending and Sustainable Development, PROPARCO

Pierre Forestier
Director TA - Blending and Sustainable Development, PROPARCO

Pierre Forestier is the Director of the Sustainable Development Department of Proparco. He is in charge of Proparco’s environmental, social and governance due diligence, impact assessment, technical assistance and blending instruments. Previously, he was the head of the Climate Change Division of the Agence Française de Développement (AFD) in charge of driving and managing the AFD’s strategy and activities in the fight against climate change. He also participates in international negotiations on climate change. Pierre is an engineering graduate and holds a Master of Business Administration (MBA).

Markus Gabbert

General Counsel / Chief Compliance Officer, DEG

Markus Gabbert
General Counsel / Chief Compliance Officer, DEG

Markus M. Gabbert is General Counsel and Chief Compliance of DEG Deutsche Investitions- und Entwicklungsgesellschaft mbH. Markus has more than 20 years of banking and emerging market experience; his principal areas of practice include banking related regulatory matters, corporate governance, general corporate and commercial law, private equity, project finance transactions, syndicated lending, guarantee and junior debt structures. He is a member of the German-South African Lawyers Association. Before joining DEG, Markus worked in international law firms and for a chartered accountant firm in Hamburg, Cologne and London; specializing on consulting investors, international banks and insurers. Markus is admitted to the Regional Court of Cologne in Germany and studied macroeconomics, political science and law. He earned his first State Exam from the University of Bonn and a Second State Exam from Düsseldorf.

Carole Maman

Chief Investment Officer, BIO

Carole Maman
Chief Investment Officer, BIO

Carole Maman is Chief Investment Officer of BIO. She joined BIO in 2003 as investment officer for Africa and afterwards headed the Financial Sector Department.

Previously Carole had worked during 4 years for the International Finance Corporation/IFC in Washington for the Latin America Department and the Health and Education Department.

She started her professional career in Mergers and acquisitions advisory services in Paris.

Carole Maman has a Master of Science of Management from ESSEC (Ecole Supérieure des Sciences Sociales, Economiques et Commerciales), Paris.

Frederik J. van den Bosch

Managing Director, EDFIMC

Frederik J. van den Bosch
Managing Director, EDFIMC

Frederik is the Managing Director of the EDFI Management Company in Brussels. EDFI MC is the fund management structure set up on behalf of fifteen European Development Finance Institutions, to enhance their collaboration with the European Commission. The EDFI MC currently manages over EUR 200m of ElectriFI funding and EUR 39 m of AgriFI funding. EDFI MC will add different guarantee schemes to its current operations. Through guarantees, different banks should be able to attract and provide more funding to companies in developing countries.

Prior to establishing EDFI MC in 2016, Frederik spent 15 years at the Dutch Development Bank – FMO, in different managing roles focusing on banks and infrastructure in Africa, SMEs and the financial sector. Frederik also held several positions at the Dutch Ministry of Foreign Affairs as well as at the European Commission.

Pierre van Hoeylandt

Founder & CEO at Natural Heritage Capital Ltd

Pierre van Hoeylandt
Founder & CEO at Natural Heritage Capital Ltd

Pierre is the founder and CEO of Natural Heritage Capital, a specialist investment management company focused on climate change and biodiversity.
Prior to establishing Natural Heritage, Pierre spent almost 20 years in the orbit of CDC, the UK’s development finance institution. From 2013 to 2020 he was Director and Head of Frontier Investments and later Director for Special Projects on the Funds & Capital Partnerships side of the business where he focused on agribusiness, forestry and renewable energy.

Before joining CDC, Pierre was Group Director of a Nigerian diversified conglomerate and CEO of its logistics business and from 2004 to 2007 founder and CEO of the Afghanistan Renewal Fund, the country’s first private equity fund.
Pierre’s early career saw him at McKinsey & Company in London, in the investment banking division of Goldman Sachs in Frankfurt, as well as doing stints at the United Nations Department for Peacekeeping Operations and working as a freelance journalist in Bosnia, Somalia and Rwanda during the civil wars in the early 1990s.

Pierre has an MPhil and a DPhil from Oxford University, where he was a Rhodes Scholar. He also studied at Freie Universität Berlin as well as New York University.

Team

The EDFI Management Company is based in Brussels. The daily operations are overseen by the Managing Director. He is assisted by a management team and specialised Investment Officers, dedicated to the various projects.

 

Discover the ElectriFI and AgriFI teams.

Frederik van den Bosch

Managing Director

Sebastiaan de Vries

Chief Financial Officer

Dominiek Deconinck

Chief Investment Officer

Charlotte Cavanagh

Paralegal

Els Dalle

Executive Assistant

Peter De Roo

Accountant

Luciana Gaspar

Senior Sustainability and Impact Officer

Thomas Heinig

Risk Manager

Aleix Jolis Rosell

Financial Analyst - EFP & ICCF

Sam Lampert

Director of Strategy & Impact

Aurélie Laurent

Senior Sustainability Officer

Estelle Mentior

HR Specialist

Laurent Peltier

Accountant

Mathilde Poncelet

Communications Specialist

Pere Joan Ribas Barcelo

Manager Co-Financing and Guarantees

Mimsy Van Bokkelen

General Counsel & Compliance Officer

Toep Van Mierlo

Legal Counsel

Get in touch

with us

Funds under management

EDFI MC has been set up to manage delegated funding from the EU and co-financing instruments for European DFIs. EDFI MC has been mandated to run ElectriFI,  AgriFI, and the T&C guarantee.

ElectriFI

The Electrification Financing Initiative (ElectriFI) is an innovative facility supporting electrification investments. It aims at accelerating access to electricity and modern energy services through intervention at the active development stage of a project. Initiated by FMO, the Dutch Entrepreneurial Development Bank, it is funded by the European Union and managed by the EDFI Management Company. Power Africa has contributed an amount of USD10 million that will be used exclusively for electrification projects in Africa.

The current ElectriFI envelope exceeds €215 million. Approximately 15 % of this allocation is dedicated to a TA Unit which helps promoters for a period of up to 10 years. ElectriFI provides loans and equity and initially has a timeframe of 10 years, which could be extended if additional funding is secured.

ElectriFI supports renewable energy investments, with a focus on rural electrification, with a total budget above €0.5 million. At early project stages or during the pilot phase, the developer will be expected to provide part of the equity. The total amount contributed by ElectriFI will not exceed €10 million per project.

Eligibility Criteria

  • Geographical Coverage – The project host country must be included in a list of emerging markets, which can be found on www.electrifi.eu, with a focus on countries in Sub-Saharan Africa.
  • Sector – The ElectriFI mandate covers projects offering both on-grid and off-grid solutions. All renewable technologies (excluding first generation biofuels) are eligible. Combining renewable with conventional generation can be considered if indispensable for the stability of the energy produced.
  • Sustainability – Funding will only be directed to those projects undertaken by entities deemed capable of attaining financially sustainability.

More information on www.electrifi.eu

 

AgriFI

The Agriculture Financing Initiative (AgriFI) is an innovative blending facility supporting investments with a value chain approach focusing on smallholder’s inclusiveness and/or agri-business medium, small and micro enterprises (MSME).

AgriFi is funded by the European Union and managed by the EDFI Management Company. The current AgriFI envelope is €39 million.

AgriFI will respond to the lack of financing mechanisms adapted to smallholders with limited market orientation, vulnerable groups, women and youth, farmers and entrepreneurs. The financing will support the increase of yields at affordable rates, and help raise farmer incomes. Increased farmer income and adherence to the highest environmental and social standards, will support sustainable supply chains that create additional employment, improve food security and enhance environmental and social practices.

More information on www.agrifi.eu

Privacy Policy

Click here to view EDFIMC’s updated Privacy Policy, in alignment with the General Data Protection Regulation (“GDPR”).

For any questions about this policy, please get in touch with us by e-mail at info@edfimc.eu.

 

Grievance Mechanism

EDFI MC’s Grievance Mechanism is established to respond to legitimate concerns and grievances by individuals and their representatives who are adversely impacted by EDFI MC’s investments.

The mechanism offers the channel of addressing these complaints.

How to use EDFI MC ’s Grievance Mechanism.

Disclosure Statement

Operating Principles for Impact Management: EDFI MC Disclosure Statement

EDFI is a founding signatory to the Operating Principles for Impact Management (the Principles). The Principles provide a reference point against which the impact management systems of funds and institutions may be assessed. They draw on emerging best practices from a range of asset managers, asset owners, asset allocators, and development finance institutions.
As a subsidiary of EDFI, the EDFI Management Company (EDFI MC) is sharing this Disclosure Statement as part of its commitment to publicly disclose alignment with the principles. This Disclosure Statement affirms that EDFI MC’s core/client business, including (a) impact management systems; (b) policies and practices; and (c) investment services (including debt, equity, and blended finance instruments) are managed in alignment with the Principles.

Disclosure Statement

Verifier Statement

Procurement Contracts

Procurement contracts exceeding EUR 15.000 and grants financed by the EU:

2016-2019

 

Finance