IFC and BlueOrchard launch evergreen emerging markets private debt vehicle
IFC and BlueOrchard partner on a private debt vehicle targeting up to $2 billion, with Tokio Marine anchoring a $300 million first closing.
The story in focus
IFC and BlueOrchard Finance have partnered on an evergreen private debt investment vehicle for emerging markets that targets up to $2 billion in commitments, with Tokio Marine Group as anchor investor in a $300 million first closing. The vehicle is aimed at pension funds, insurers and sovereign wealth funds seeking long-term private credit exposure.
- The vehicle targets up to $2 billion in commitments and held a $300 million first closing anchored by Tokio Marine Group.
- It is evergreen, allowing subscriptions and redemptions within predefined windows while capital is reinvested.
- It builds on IFC's Managed Co-Lending Portfolio Program, launched in 2013 with over $25.5 billion in capacity.
Structure and target investors
The International Finance Corporation, part of the World Bank Group, and BlueOrchard Finance, an impact investment manager within Schroders Group, announced the initiative on October 7, 2026. The vehicle targets up to $2 billion in commitments. Tokio Marine Group served as anchor investor in a $300 million first closing.
The vehicle is evergreen, so investors can subscribe and redeem on an ongoing basis within predefined redemption windows, while capital is recycled into new investments. It is designed for private investors including pension funds, insurers and sovereign wealth funds seeking long-term private credit exposure.
Program background and rationale
The vehicle extends IFC's Managed Co-Lending Portfolio Program, launched in 2013, a syndications platform described as having over $25.5 billion in capacity that lets partners co-invest alongside IFC on commercial terms.
IFC Managing Director Makhtar Diop said emerging markets need trillions of dollars for development, more than public finance can supply. BlueOrchard CEO Michael Wehrle cited the firm's 25 years of investing across these markets. Tokio Marine Group CEO Masahiro Koike described the investment as a next step in its partnership with IFC.
The announcement states that emerging market debt fundamentals have strengthened over the past two decades, supported by improved regulation, stronger governance and declining default rates. No specific countries affected were identified.
Context
IFC reported committing a record $71.7 billion in fiscal year 2025 to private companies and financial institutions in developing countries. The announcement did not specify eligible countries, expected deal volumes or a timetable beyond the first closing.
How much does the IFC-BlueOrchard vehicle target, and who anchored the first closing?
The vehicle targets up to $2 billion in commitments. Tokio Marine Group was the anchor investor in a $300 million first closing, according to the announcement.
Sources & further reading
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