Emerging Markets
Direct Lending

Direct Loans to Under-Served Markets Can Produce Higher Returns While Helping to Create Jobs

Providing customized and efficient capital to support small and middle market businesses

The emerging markets offer favorable conditions for the growth of direct lending. Direct lending is not only profitable for investors, it also supports communities by providing more affordable credit to job-creating small businesses. Non-bank lending plays a substantial and growing role in emerging economies.

According to the Bank for International Settlements, debt to non-bank lenders accounts for 23% of private non-financial sector debt. Furthermore, private debt in the emerging markets grew an average of 4.5% per year during the past decade. The World Bank estimated that 70% of micro, small, and medium-sized enterprises in the emerging markets are unable to access credit. Direct loans to under-served markets can produce higher returns while helping to create jobs.

Local Markets Expertise

Local Markets experience in corporate lending and project finance

Ashton Global Direct Lending was created to provide secured loans to support the growth and financing needs of small and medium enterprises (“SMEs”) throughout their lifecycle. 

Disciplined underwriting, better structuring, and intensive loan monitoring enables us to create value for our investors.

Ashton Global Direct Lending

Term Loans

Ashton Global provides businesses with secured term loans for growth

Trade Finance

Ashton Global provides businesses with reliable working capital

Ashton Global Direct Lending

Healthcare Finance

Ashton Global provides businesses with leasing solutions for growth

Learn more

what are the KEY risks?

Credit Risk

Companies are smaller and typically “non-bankable”

Borrowers more susceptible to event and regulatory risks

Borrowers have smaller revenue and assets bases, 

Borrowers typically have fewer sources of available liquidity

what are the KEY risks?

Illiquidity Risk

No active trading in the loans Loans are held to maturity

No mark-to-market valuation

Returns are generated from origination fees and interest received as the loan repays over time

how we mitigate PORTFOLIO AND EVENT riskS 

Credit risk is our most significant risk. We secure our loans against collateral that can be easily liquidated. Wherever possible, we also obtain a lien on the company’s land and buildings and other tangible and liquid assets.

Performance risk is mitigated via thorough analysis of the past financial performance of potential borrowers. We will only lend to potential borrowers that demonstrate a financially viable enterprise. Loan monitoring is ongoing and vigilant through frequent contact with borrowers, monitoring of bank accounts and local news sources, and by stress testing revenues and costs to project debt repayment capacity.

Risk of fraud is mitigated through our critical due diligence on potential borrowers and transactions. All leads are generated from internal sources and we do not pay any broker fees to find new transactions.

Concentration risk is mitigated through diversification across borrowers, country, and sectors.

Liquidity risk will be mitigated by matching the source of funds to the facilities provided to the borrowers. This ensures a close matching of assets and liabilities. Excess funds will be invested in highly liquid money-market instruments.

Political/Expropriation risks are mitigated by our country selection criteria and emphasis on a strong rule of law in the regions in which we operate. Political risks are actively monitored and risk insurance is acquired as needed.

Ashton Global Education Direct Lending

Representative Transaction

Private Education in Africa

Representative Transaction

Macadamia Nut Producer in Kenya

Ashton Global Small Business Loans

Direct Lending

Why Ashton Global?

Ability to address complex situations within short time frames and close transactions quickly

Experience in emerging markets and with SMEs

Broad experience across industry sectors and financing structures

Fully transparent investment process

Contact US

We provide customized and efficient capital to support small and middle market businesses. 

An investor should consider the fund’s investment objectives, risks, charges and expenses carefully before investing or sending money. This and other important information about the fund can be found in the fund’s prospectus, or, if applicable, the summary prospectus. Any decision to invest in Ashton Global funds should be made on the basis of the current prospectus, which is available on request at info@ashtonglobal.com. Read the prospectus carefully before investing. All investing involves risk, including potential loss of principal. There is no guarantee that the fund will achieve its objective. 

Our managers

International Small-Cap

The Ashton Global International Small Cap Fund seeks to generate strong returns by investing in undervalued small-cap and early stage companies across emerging Asia. 

Invest in Asia

Africa Frontiers

A local network of attorneys, accountants, and entrepreneurs is used to identify niche, small-cap, and event-driven opportunities across Kenya and East Africa.

Invest in Africa

Litigation Finance

The returns for litigation finance depend on the outcomes of particular court cases, which are unaffected by market movements.

Invest in Legal Settlements