WASHINGTON — IDB Invest, a member of the IDB Group, has added over $450 million to its $1 billion Scaling4Impact securitization launched in 2024 —marking the first retap of a securitization under the originate-to-share model by a multilateral development bank (MDB) to mobilize private capital for development.
The transaction confirms that securitizations can serve as a repeatable tool for MDBs to optimize their balance sheets, mobilize private capital, and open space for increased lending.
“This is an important step in the IDB Invest+ originate-to-share business model and IDB Group’s IDBStrategy+ to foster private sector led development” said Ilan Goldfajn, President of the IDB Group. “By bringing global investors to our projects we’re paving the way to a more scalable model to mobilize private capital for development”.
The new portfolio spans infrastructure, energy, financial institutions, and corporate sectors across Latin America and the Caribbean. The mezzanine tranche was purchased by Newmarket Capital, with portions insured by AXA XL and AXIS Capital. IDB Invest retains the senior and junior tranches.
“We’ve demonstrated that our model works,” said James Scriven, CEO of IDB Invest. "Returning to the market with this retap evidences the strong investor confidence in the quality and performance of our diversified development assets.”
“I’m excited to see this expansion of the original Scaling4Impact transaction, which is, a testament to the importance of long-term partnerships in creating new pathways for private market investors to participate in development finance”, said Molly Whitehouse, portfolio manager for Newmarket’s SRT platform and a Managing Director and Co-Founder at Newmarket. “This tap reaffirms the powerful role of SRT transactions in helping multilateral lending institutions continue to expand their critical lending work.”
The original transaction — the first securitization of MDB private-sector assets in Latin America and the Caribbean — has received multiple awards, including most recently Securitization Deal of the Year, Latin America, by IJGlobal Investor Awards 2025.
The retap advances G20-endorsed MDB reforms by promoting financial innovation, crowding in private capital, optimizing balance sheets, and leveraging MDB performance data via the Global Emerging Markets (GEMs) database.
Santander Corporate & Investment Banking and Clifford Chance served as advisors.
About IDB Invest
IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $22 billion in assets under management and more than 440 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries. Visit our website: www.idbinvest.org/en.
About Newmarket
Newmarket is an asset manager and registered investment adviser positioned at the nexus of structured solutions, impact, and innovation. We design and invest in balance sheet solutions at scale alongside the world’s largest financial institutions, customizing our structures and reference portfolios to optimize value for our partners. The Newmarket team has provided credit protection instruments since 2013, specializing in portfolios of infrastructure, large corporates, and commercial real estate loans. These investments provide risk-transfer tools that help optimize bank balance sheets. Newmarket has a long history of making impact investments, having catalyzed billions of dollars of fresh lending to urgently needed climate resiliency and development finance projects around the world.
Our company’s namesake, Newmarket, celebrates our focus on improvement and innovation while honoring one of the oldest surviving market buildings in the United States, New Market, which is located in Philadelphia, where the company is headquartered. To learn more, please contact [email protected] or visit us at newmarketcapital.com.
About AXA XL
AXA XL, the property & casualty and specialty risk division of AXA, provides insurance and risk management products and services for mid-sized companies to large multinationals, and reinsurance solutions to insurance companies globally. We partner with those who move the world forward. To learn more, visit axaxl.com.
About AXA XL INSURANCE
AXA XL Insurance offers property, casualty, professional, financial lines, and specialty insurance solutions to mid-sized companies through to large multinationals globally. We partner with those who move the world forward. To learn more, visit axaxl.com.
About AXIS Capital
AXIS Capital, through its operating subsidiaries, is a global specialty underwriter and provider of insurance and reinsurance solutions. The Company has shareholders' equity of $6.4 billion at September 30, 2025, and locations in Bermuda, the United States, Europe, Singapore and Canada. Its operating subsidiaries have been assigned a financial strength rating of "A+" ("Strong") by Standard & Poor's and "A" ("Excellent") by A.M. Best. For more information about AXIS Capital, visit our website at www.axiscapital.com.
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