Article Language: English

Executive Summary

This report is the result of a collaboration between CGAP and J.P. Morgan. CGAP is solely responsible for
the printing and distribution of this Occasional Paper. CGAP is not affiliated with J.P. Morgan. Our objective is to provide benchmarks for valuation of microfinance equity, both private and publicly listed. Our analysis is based on two datasets: a sample of 144 private equity transactions, which represents the largest such dataset gathered to date, and data on 10 publicly traded micro finance institutions (MFIs) and low-income consumer lenders.