Creation Investments Opens India Office and Appoints Finance Veteran Remika Agarwal as Country Head, Launches India-Focused Debt Fund

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Creation Investments Capital Management, LLC

Feb 17, 2021, 06:53 ET

CHICAGO and BENGALURU, India, Feb. 17, 2021 /PRNewswire/ -- Creation Investments Capital Management, LLC, an alternative asset manager and leading impact investor in developing markets financial services, today announced the opening of its first India office and the appointment of financial industry veteran Remika Agarwal as vice president and country head.

As part of its expansion in India, Chicago-based Creation has launched its first debt fund. The fund focuses exclusively on providing debt financing to non-bank financial companies serving the Indian population in areas such as micro-lending, affordable housing, vehicle loans, small- and medium-enterprise lending (SMEs), and education finance. Investors in Creation's earlier private equity funds, including family offices, have indicated interest in committing capital to the firm's initial debt fund.

Currently, Creation's portfolio companies serve more than 23 million entrepreneurs in India. The office in Bengaluru will help manage the firm's growing portfolio of Indian companies that provide capital to those living at the bottom of the economic pyramid. Over the past 10 years, the firm has invested more than $300 million in multiple Indian companies specializing in microfinance, SMEs, fintech, payments, agri-warehousing and finance and other businesses seeking to alleviate living conditions for underprivileged people.

Patrick Fisher, founder and managing partner, Creation Investments, said, "We are delighted to welcome Remika to Creation and are excited to open our India office after building a strong presence in the country. Our efforts have helped Indian families and businesses by supporting companies that provide crucial capital needs. We aim to expand and accelerate our investments in the world's second most populous country through our first debt fund and other initiatives."

India is Creation's single largest destination for impact investments in companies providing access to capital to unbanked and underbanked families and businesses.

Agarwal said, "Our portfolio companies, which have withstood the shocks of the Covid-19 pandemic and earlier demonetization in India, remain strong. We continue to seek investments in companies that have robust business models, strong management teams, and sound environmental, social, and corporate governance (ESG) credentials."

Agarwal brings more than 14 years of experience across multiple financial service areas to Creation. Previously, she was head of structured finance and products at a large non-bank financial company in India and vice president for over a decade with a leading Indian rating agency. Agarwal plans to hire up to two associates in 2021 to help manage the firm's growing portfolio of Indian companies that provide capital to those living at the bottom of the economic pyramid.

Creation's India office is located in central Bengaluru at 80 Feet Rd., Koramangala.

About Creation Investments

Creation Investments Capital Management, LLC, based in Chicago, is an alternative asset manager and leading impact investor in developing markets financial services. Worldwide, Creation's investments directly help more than 28 million small businesses. As of Dec. 31, 2020, the firm manages more than US$725 million in private funds and other vehicles on behalf of individuals, family offices and institutional investors.

Leveraging its deep industry experience, Creation partners with management teams to inject growth equity and facilitate buyout transactions in firms specializing in microfinance, small- and medium-enterprise credit, leasing, factoring, insurance, savings, payments, and mobile money. For more information, visit www.creationinvestments.com.

SOURCE Creation Investments Capital Management, LLC