Frank Gosselink appointed CEO of GuarantCo Management Company

  • Date written
  • October, 2024

GuarantCo Management Company (GMC) has appointed Frank Gosselink as its new Chief Executive Officer. GMC executes the investment strategy and portfolio management for GuarantCo, part of the Private Infrastructure Development Group (PIDG).

Frank Gosselink appointed CEO of GuarantCo Management Company

Frank has been co-CEO of Cardano Development since 2015, whilst also supporting risk management for GuarantCo and the Private Infrastructure Development Group.

He was Chairman of Cardano Development’s first mandate, TCX, since it was created in 2007. Between 2003 and 2008, Frank was Director Risk Management at FMO.

From 1999 to 2003, he was Manager of an actuarial department at AEGON in The Hague. Frank lived in Senegal and Guinea-Bissau from 1993 to 1997 working for the United Nations at planning and management in the water sector.

Frank graduated in econometrics in 1990 at the Erasmus University in Rotterdam and studied philosophy at the Erasmus University and Freie Universität in Berlin. He also graduated as a Chartered Controller from the Erasmus University in 2006.

Philippe Valahu, CEO of PIDG and Chair of the GuarantCo Board, said:

“Frank has been closely involved in GuarantCo’s work over the last few years and he knows the PIDG Group very well. I look forward to continuing our partnership and collaboration.”

Joost Zuidberg, CEO of Cardano Development and Chair of the GMC Board, said:

“I am delighted to welcome Frank to his new role as CEO of GuarantCo Management Company, following his involvement as a non-executive director since 2016. Frank’s deep insights into GuarantCo’s markets, risks, and opportunities, gained in part through his position as co-CEO of our holding company, Cardano Development, will greatly contribute to the next phase of GuarantCo’s growth”.

NOTES TO EDITORS

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 the PIDG Trust, the Netherlands, through FMO and the PIDG Trust, France through a stand-by facility and Global Affairs Canada through a repayable facility. GuarantCo is rated AA- by Fitch and A1 by Moody’s. Since 2005, GuarantCo has enabled USD 6.8 billion of total investment and USD 5.7 billion of private sector investment, giving 44.7 million people access to infrastructure and creating around 243,000 jobs. 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 project developer and investor which mobilises private investment in sustainable and inclusive infrastructure in sub-Saharan Africa and south and south-east Asia. PIDG investments promote socio-economic development within a just transition to net zero emissions, combat poverty and contribute to the Sustainable Development Goals (SDGs). PIDG delivers its ambition in line with its values of pioneering, partnership, safety, inclusivity and urgency.
PIDG offers Technical Assistance for upstream, early-stage activities and concessional capital; its project development arm – which includes InfraCo Africa and InfraCo Asia – invests in early-stage project development and project and corporate equity. PIDG credit solutions include EAIF (the Emerging Africa Infrastructure Fund), one of the first and more successful blended debt fund in low-income markets; GuarantCo, its guarantee arm that provides credit enhancement and local currency solutions to de-risk projects; and a growing portfolio of local credit enhancement facilities, which unlocks domestic institutional capital for infrastructure financing.
Since 2002, PIDG has supported 233 infrastructure projects to financial close, which provided an estimated 228 million people with access to new or improved infrastructure. PIDG is funded by the governments of the United Kingdom, the Netherlands, Switzerland, Australia, Sweden, Global Affairs Canada, Germany, and the IFC. pidg.org

About Cardano Development

Cardano Development (CD), established in 2007, incubates new companies and creates and manages fund managers. Through careful risk-management analysis in data poor settings, CD identifies scalable solutions that can help to make frontier financial markets more inclusive, investible, and sustainable to unlock lasting economic value. CD creates scalable solutions for currency, credit, and liquidity risks in these markets. With over USD 6 billion assets and USD 3.1 billion capital under management, CD supports scale-up ventures (TCX, GuarantCo, Frontclear, BIX Capital, ILX Fund, AGRI3 Fund), and a number of new start-ups, with ongoing management support services and corporate governance oversight. For more information, please visit www.cardanodevelopment.com.