TriLinc Global Impact Fund Values Investments at $266 Million at Close of Q3 2024
TriLinc Global Impact Fund LLC, a publicly registered non-traded limited liability company, reported that its financing commitments for business expansions and socioeconomic developments through its global investment portfolio was $266 million as of Sept. 30, 2024. This was compared to $398.5 million in the year prior.
The weighted average loan size of the TriLinc portfolio is approximately $9.2 million with a weighted average duration of 0.59 years. This was compared to $8 million with a weighted average duration of 0.76 years in the prior year, September 2023.
As of the end of September 2024, the company had funded approximately $1.2 billion in aggregate investments to 98 borrower companies globally (including $104.7 million in temporary investments), supporting 43,671 permanent employees. Of the aggregate investment amount, the company had received approximately $893.8 million in full aggregate transaction repayments (73.78% of total invested) from existing and exited trade finance, term loan, and temporary investment facilities.
TriLinc Global Impact Fund is an impact investing fund that provides growth-stage loans and trade finance to established small and medium enterprises primarily in developing economies where access to affordable capital is limited. The company defines impact investing as “investing with the specific objective of achieving a competitive financial return as well as creating positive, measurable impact in communities across the globe.”
In other company news, TriLinc continued its search for a successor to Mark A. Tipton, who resigned from his position as chief financial officer on June 30. The board appointed Gloria Nelund, the company’s chief executive officer and president, to temporarily serve as the company’s interim chief financial officer. Tipton also agreed to serve as the company’s principal financial and accounting officer on an interim basis while the company conducted its search for a successor.
Nelund has served as the company’s chairman and CEO since its formation in April 2012 and became its president in December 2014. In addition, she has served as the chairman and CEO of TriLinc Advisors LLC, the company’s adviser since its formation; president of the adviser from December 2014 to August 2019; chief compliance officer of the adviser from November 2013 to February 2019; the chairman and CEO of TriLinc Global LLC, the company’s sponsor, since its formation in August 2008; president of the sponsor from December 2014 to October 2015; and chief compliance officer of the sponsor from November 2013 to February 2019.
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