News

GuarantCo Management Company (GMC) strengthens Global Execution Team with the appointment of a Managing Director to support GuarantCo’s ambitious growth plans

GuarantCo Management Company (GMC), GuarantCo’s fund manager and a subsidiary of Cardano Development, has appointed Philip Skinner to Managing Director of its Global Execution Team, effective 1st October 2020, to ensure that GuarantCo, a Private Infrastructure Development Group (PIDG) company, is well prepared to deliver against future growth opportunities.

Philip joined GMC in 2016 as a Director in the Global Execution Team and has led a number of successful financial closes in both Africa and Asia.  Prior to joining GMC, he worked for the Green Investment Bank and DNB Bank where he specialised in power and renewable energy transactions. Philip holds a MSc in Development Economics from Oxford University.

In his new role, Philip will be joining the Executive Committee of GuarantCo Management Company and will work closely with the Managing Director, Africa, Managing Director, Asia and Managing Director, PIDG InfraSolutions to ensure that GuarantCo’s transactions are proactively and appropriately managed in accordance with GuarantCo’s policies, objectives and values.

Lasitha Perera, CEO of GuarantCo said: “In the last few years, GuarantCo has gained significant momentum with the continued support of our five funding G20 governments, the Private Infrastructure Development Group, Cardano Development and the dedication of our team. Considering the various growth opportunities that we have created it is essential to have the right team in place and I am therefore delighted to welcome Philip to the Executive Committee.”

Philip Skinner

Philip Skinner

Notes to editors

GuarantCo, through GuarantCo Management Company (GMC), manages its activities through fund manager, Cardano Development, under an exclusive long-term contract. The Fund Manager is the principal point of contact for GuarantCo and is responsible for advising GuarantCo on transactions including origination, structuring, documentation, performing due diligence and monitoring GuarantCo’s portfolio.

About GuarantCo

GuarantCo mobilises private sector local currency investment for infrastructure projects and supports the development of financial markets in lower income countries across Africa and Asia. GuarantCo is part of the Private Infrastructure Development Group (PIDG) and is funded by the governments of the United Kingdom, Switzerland, Australia and Sweden, through PIDG, and the Netherlands, through FMO and PIDG. GuarantCo is rated AA- by Fitch and A1 by Moody’s. GuarantCo’s activities are managed by GuarantCo Management Company which is part of Cardano Development. www.guarantco.com

About PIDG

The Private Infrastructure Development Group (PIDG) is an innovative infrastructure development and finance organisation which encourages and mobilises private investment in pioneering infrastructure in the frontier markets of sub-Saharan Africa and south and south-east Asia to promote economic development and combat poverty. PIDG delivers its ambition in line with its values of opportunity, accountability, safety, integrity and impact. Since 2002, PIDG has supported 157 infrastructure projects to financial close and provided 209 million people with access to new or improved infrastructure. PIDG is funded by six governments (the UK, the Netherlands, Switzerland, Australia, Sweden, Germany) and the IFC. www.pidg.org

About Cardano Development

Cardano Development is a fund manager and incubator empowering frontier financial markets by streamlining capital and applying risk insights to create innovative and scalable solutions. With over USD 5 billion assets and USD 1.2 billion capital under management, we support five established funds, including ILX, GuarantCo, Water Finance Facility, TCX and Frontclear, with ongoing management services and corporate governance oversight. Cardano Development works with reputable partners including foundations, governments, impact investors, institutional investors and commercial partners. www.cardanodevelopment.com

Contact for GuarantCo

Marjolein van Kampen
Communications Director
M: +44 (0)738 8857097
E: marjolein.vankampen@guarantco.com

Contact for PIDG

Cecille Sorhus
Head of Communications
M: +44 (0)7917 302724
E: cecille.sorhus@pidg.org

Contact for Cardano Development

Fleur Henderson
Senior Project Director
M: +31 (0) 611381401
E: f.henderson@cardanodevelopment.com