IFC invests $40m in Red Asset’s structured credit fund
The International Finance Corporation has invested BRL160 million (about $40 million) to acquire senior quotas of the Red Performance, a Fundo de Investimento em Direitos Creditórios (FIDC) managed by Red Asset. The funds will support the expansion of access to finance for micro, small and medium-sized enterprises in Brazil.
The FIDC acquires receivables and other credit rights originated by SMEs that provide services or sell products to MSMEs in Brazil. The net worth of the FIDC amounts to BRL895 million (about $224 million).