Cordaid announces the departure of Laure Wessemius-Chibrac as Managing Director and Chairman of the Executive Board of Cordaid Investment Management B.V. (CIMBV). Mrs Wessemius-Chibrac has taken this decision on her own initiative.
CIMBV is the subsidiary of the Cordaid Foundation that manages all investments. CIMBV is a fund manager registered at the Authority for the Financial Markets (AFM). We combine the unique ability to finance partners with grants, equity and debt instruments in selected countries across three continents.
We have EUR 80 million of assets under management, predominantly investments in microfinance institutions (MFI’s), small and medium enterprises (SME’s) and funds with a social mission. Over 70 investees are being served worldwide.
Mrs Wessemius-Chibrac joined Cordaid in June 2013 as Director of the Business Unit Investments. She led the transformation of the investment unit of Cordaid into an independent fund manager. This transformation has been very successful. Today, CIMBV is a recognized quality player in the international impact investment field.
Mrs Wessemius-Chibrac: “When I started as BU Director, the investment activity was still fully grant-funded and dependent on the Cordaid Foundation. In the past 4 years, CIMBV doubled its investment portfolio and focused intensively on supporting entrepreneurship in fragile and conflict-affected countries.
“I strongly believe that CIMBV’s team and professionalism will continue to lead the change in fragile and conflict-affected states.”
Laure Wessemius-Chibrac, Managing Director of Cordaid Investment Management B.V.
“SIFA, Cordaid’s first investment fund open to external investors, and which is on target to close by the end of 2017 at a size of 30 million euros, sets the example for new style impact investing in fragile and post conflict geographies.”
A new phase for CIMBV
“SIFA earmarks a new phase for CIMBV, more focused on investment management and less on transformation from NGO investor to independent fund manager. I am very proud of the transformation we have achieved as a team and have every confidence that CIMBV will continue to thrive in the years to come. I strongly believe that CIMBV’s team and professionalism will continue to lead the change in fragile and conflict-affected states.”
Mrs Wessemius-Chibrac will progressively step down from her responsibilities as Managing Director and remain a few more months with the organization to ensure a smooth transition with her successor.
The timely announcement enables Cordaid to carefully select a successor.
We are thankful to Mrs Wessemius-Chibrac for her professionalism and contribution, and wish her all the best with her new endeavors.