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Howard J. Finkelstein: About
Howard
Useful Links:


Microfinance Investment Vehicles


Read about best practices and lessons learned from a comprehensive MIV survey

MIV.pdf

MAP

Learn more about the Microfinance Advancement Program (MAP)

MAP OUTLINE.pdf

MF Growth

Read more about the remarkable growth of microfinance

MF Growth.pdf

Lawdragon Interview

Find out more about Howard and microfinance from the interview below

Interview
About Howard


Howard
Mr. Finkelstein, who recently left Akerman Senterfitt to establish his own practice, focuses a great part of his practice on structuring capital market instruments to bring Western capital to microfinance institutions (MFIs) worldwide. He is one of the country's pioneers in the securitization of microfinance-related obligations. In 2004, he was the lead attorney in the $87 million securitization known as Blue Orchard Microfinance Securities I, in which he successfully structured the securitization of loans to microfinance institutions in seven countries spanning three continents. He was also the lead attorney in the $60 million securitization known as MicroFinance Securities (MFS) XXEB, in which he successfully structured the multi-currency securitization of loans to 30 microfinance institutions in 15 countries. In 2007, he served as US counsel to Blue Orchard in the $100 million transaction known as BOLD 2007, which was named the Sustainable Deal of the Year for 2007. Also in 2007, he was the lead attorney in the $39 million MicroVest securitization placed by Lehman Brothers. His work has helped to bring nearly $1 billion to MFIs worldwide.

Mr. Finkelstein participates broadly in the sector, having organized and co-chaired three conferences and spoken at numerous other public and private forums on microfinance. He is on the Board of Directors of the Microfinance Club of New York, Secretary of Microlumbia, Inc., and on the Advisory Boards of Green Microfinance, Lend for Peace and Frogtek LLC. Mr. Finkelstein spends a significant amount of his time dealing with and discussing significant policy issues involving microfinance and sustainable investment. As an example, see the summary of his recently announced initiative, the Microfinance Advancement Program (MAP.pdf).

Among the various investment structures that Mr. Finkelstein has worked on or is working on, are the following:
- CDO/CLO pooling of loans to MFIs in multiple countries. Issuers have been US trusts and LLCs and Luxembourg securitization entities. Holders have been both US (taxable and non-taxable) and foreign. Servicers have been both domestic and foreign.
- Securitization of microloans originating in India.
- Debt and/or equity funds representing investments in MFIs in multiple countries. Issuers have been US LLCs and Luxembourg SIFs and/or SICAVs, including feeder funds. Holders have been both US (taxable and non-taxable) and foreign. Managers have been both domestic and foreign.
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