The Fund
Origen Private Debt Fund is a debt fund licensed by the Securities and Exchange Commission to provide debt and mezzanine financing to infrastructure projects in Ghana. The Fund seeks to raise 500 million Ghana cedis from the capital market with an objective of investing in the real economy. Origen will differentiate itself from traditional lenders through its transaction speed, innovative structures, and appetite for well-priced execution risk. The Fund will only lend into self-liquidating structures or against a guaranteed exit
Investment Objectives
The principal investment objective of the Fund is to mobilize pension and other domestic sources of long-term funding towards projects at execution stage to finance expansions, new production lines and other similar infrastructure development, to achieve measurable financial and developmental returns in terms of wealth creation, direct and indirect job creation as well as positive impact on the climate through partial or full greening of projects
Fund Impact
Jobs
Jobs Gender Green The targeted 60 investee projects will seek to create at least 10 sustainable direct jobs and 500 indirect jobs each. Total >30,000 jobs during fund life.
Gender
Up to 25% of our funding will be allocated to women-owned investees or with women in key leadership positions.
Green
Positive impact on the climate by helping sponsors to green their projects through a partial or full modification of plans
Summary Fund Details
Name of Fund
Origen Private Debt and Venture Capital Fund LTD (Also trading as “Origen Private Debt Fund Ltd.”)
Type of Company
Private company limited by shares
Principal Objective
Provide debt financing to projects in Ghana
Sector Allocation
Agnostic with a bias toward agribusiness, healthcare, education, renewable energy, transport & logistics
Target Fund Size
GHS 500,000,000
Mini. Ticket Size
Average GHS10M
Closings
Multiple
Closings
10-years
Preferred LP return
Target of 15% per annum in GHS terms
LP Return Hurdle
20% hurdle rate in GHS terms
Internal Rate of Return (IRR)
Target of 25% per annum in GHS terms
Investors Total Returns
A cumulative preferred return of 15% annually after the first exit.
Annual dividends as approved by the Fund Board.
Capital repaid from Year-8 onwards.
Target IRR of 25% per annum in GHS terms.
Commitment Period
7 Years
Management Fee
2.0% of committed capital per annum
Carried Interest
20% catch up after return of principal and hurdle
Offer Currency
Ghanaian Cedi (GHS)
Offer Price
GHS 1.00