Private debt and equity

Direct investments that work towards a green, inclusive and resilient economy

Robust track record and in-depth sector knowledge

For more than 30 years, we have been financing and actively managing hundreds of projects and businesses in over 50 countries. From battery storage to innovative food solutions, they all, in their own unique way, contribute to a sustainable future for all. Our international investment teams have built up in-depth expertise in high-impact sectors and a full range of financial instruments, from pure private debt and private equity to mezzanine finance.

Holistic approach integrating impact, risk and return

Guided by a thorough on-the-ground due diligence process, we assess and select companies based on impact, risk and return considerations, with a relationship-driven approach. This results in well-diversified and scalable impact investment portfolios, with attractive market-rate return profiles and low historic default rates.

Global footprint

Our footprint is truly global, with 450+ private debt and equity investments in more than 50 countries. You can find a full overview on our website, including their contribution the UN Sustainable Development Goals.

Our private debt and equity funds are built around three key themes, designed to address pressing global challenges and opportunities.

Our Impact Private Debt and Equity team of 50+ professionals includes portfolio managers, specialised investment managers, internal account managers, in-house legal support, KYC specialists and impact staff.

Femke Bos

Director Impact Private Debt & Equity

Femke Bos joined Triodos Investment Management in June 2024 as Director Impact Private Debt & Equity. In this position, she oversees all private debt and equity investment teams as well as the Fund Management, KYC and Credit Expertise teams. With over 20 years of experience in impact investing, business development and fund management, she brings a wealth of expertise in driving impact investing solutions.

Before joining Triodos Investment Management she held key roles at Invest International and Dutch development bank FMO. Earlier in her career, from 2002 to 2019, she worked at Triodos Investment Management, where she served in various capacities, including as Fund Manager of Triodos Microfinance Fund.

Sonja de Ruiter

Fund Manager

Sonja de Ruiter is Head of Fund Management (since 2024) and Fund Manager of Triodos Energy Transition Europe Fund (since 2023). She joined Triodos IM in May 2019 and became Head of Equity Investments Energy & Climate in 2020. Previously, she worked at ING in the energy sector in field of corporate and project finance. Sonja holds a Master degree in International Economics from the University of Groningen.

Tim Crijns

Fund Manager

Tim Crijns is Lead Fund Manager of Triodos Microfinance Fund since 2019 and of Triodos Emerging Markets Renewable Energy Fund since March 2024. He joined Triodos Investment Management in 2016 as investment officer Africa. Tim started his career at Triodos in 2014 as corporate secretary to the Board of Directors of Triodos Bank, Supervisory Board and the Foundation for the Administration of Triodos Bank Shares (SAAT). Prior to Triodos he spent two years in Tanzania, setting up a vocational training project, and worked as lawyer at Clifford Chance and ING Bank. Tim holds a Master degree in law from the Radboud University of Nijmegen and a Master in business administration (Strategic Management) from the Erasmus University of Rotterdam. Tim is a member of the Board of Directors of 3Bank Serbia.

Willy Bulsink

Fund Manager

Willy Bulsink is Fund Manager of Triodos Groenfonds and Triodos Emerging Markets Renewable Energy Fund. He joined Triodos Investment Management in 2020 as Senior Investment Manager, working for Triodos Groenfonds, Triodos Emerging Markets Renewable Energy Fund and the Triodos Financial Inclusion funds. Prior to joining Triodos Investment Management, Willy worked in a similar position at FMO. Before that he worked at Kempen & Co, among others as an equity analyst. Willy holds a Master degree in Business Administration and Finance from the University of Maastricht.

Judith Santbergen

Fund Manager

Judith has been Fund Manager of Hivos-Triodos Fonds since November 2021. She joined Triodos Investment Management in May 2014 as an Investment Officer for Africa and subsequently worked as a Senior Investment Officer since July 2016. Seconded as a Senior Investment Manager to AlphaMundi Group’s local team in Kenya, she spent two years in Africa.

Prior to joining Triodos IM, Judith worked in various roles at Rabobank. She holds a Master’s degree in Social Cultural Sciences and Business Administration from the Vrije Universiteit in Amsterdam.

Florian Bankeman

Fund Manager

Florian Bankeman is Lead Fund Manager of Triodos Fair Share Fund. He joined Triodos Investment Management in January 2020 as a Fund Manager. Prior to that Florian worked in several financial institutions including ING Investment Management/NN Investment Partners and Candoris. Florian holds a Bachelor's degree in Commercial Economics, is a Chartered Financial Analyst® charterholder and an active member of the CFA VBA Society of the Netherlands/CFA Institute.

Adam Kybird

Fund Manager

Adam Kybrid is a seasoned investment professional with 16 years of experience. He joined Triodos Investment Management in June 2020 from the Young Foundation where he led venture investments in education.

Prior to that he worked in Bridges Fund Management, KPMG Strategy Group and at the Clinton Foundation- HIV/AIDS Initiative in Liberia and Indonesia. Adam holds a master in Philosophy, Politics and Economics from the university of Oxford and a Corporate Finance post-master from the London Business School.

Caspar Sprokel

Head of Private Equity

Caspar Sprokel is Head of Private Equity of the Impact Private Debt and Equity team at Triodos Investment Management. He joined Triodos IM in July 2012. He is a member of the management team and Investment Committee and has served on Boards of SME and microfinance banks in Africa and Asia. Caspar Sprokel has over 20 years of banking and financial sector experience in Europe, Africa and Asia. He was Investment Director at SDG, a Botswana-based private equity fund that focuses on the African financial sector and Missing Middle Markets (2008-2011). He has an MBA from the University of Groningen and holds certificates in Banking & Finance, French and Corporate Law from various universities.

Frank Streppel

Head of Credit Management

Frank Streppel is Head of Credit Management of the Impact Private Debt and Equity team. He serves on the Board of Directors of several banks in Africa and Asia. Frank Streppel started working for Triodos IM in 2000, first as a Senior Investment Officer for East and Southern Africa and later as Fund Manager, Head of Investments and Investment Committee Chair. Prior to joining Triodos IM, he worked for ABN AMRO Bank in the Netherlands and for Médecins Sans Frontières in Sri Lanka.

Michiel van Beek

Head of Project Equity & Project Debt

Michiel van Beek is Head of Project Equity & Project Debt. He joined Triodos Investment Management in 2021 as Sr. Investment Manager. He has worked in the renewable energy sector for almost 20 years. He headed international project development teams at E-concern and Solarcentury and co-founded a view RE ventures. Driven by impact he developed several renewable energy assets throughout Europe and South Africa, managed M&A transactions and had the opportunity to work on at that time innovative projects, such as, setting up the foundation DE-ON and Zonnepark Ameland. Michiel holds a master’s degree in mechanical engineering from the University of Twente and he has a business education from TSM and Insead.

Ricardo Balbuena

Head of Corporate Debt Latin America and Africa

Ricardo Balbuena joined Triodos IM in October 2016 as investment manager financial inclusion. In his current role, he heads the Corporate Debt team for the African and Latin American regions. Prior to joining Triodos IM, Ricardo worked at BCP in Peru for 7 years in several roles.

He holds a bachelor’s degree in economics from the Pontificia Universidad Católica del Peru and an MBA from Rotterdam School of Management in the Netherlands. Ricardo is a director in the board of several financial institutions in Latin America.

Dorian Marquer

Head of Corporate Debt Asia and ECCA

Dorian Marquer joined Triodos IM in March 2020 as senior investment manager financial inclusion. In his current role, he heads the Corporate Debt team for the Asian and Eastern Europe, Caucasus and Central Asia (ECCA) regions. Prior to joining Triodos IM, Dorian worked at EDF and Société Generale in Russia and the Amsterdam Trade Bank in the Netherlands in various positions.

He holds master degrees from Université de Franche-Comté, Higher School of Economics and ESCP Europe. Dorian is a director on the board of several financial institutions in Asia and ECCA countries.

Private debt and equity

Why investors choose us

Thematic strategies

Triodos Microfinance Fund

Triodos Fair Share Fund

Triodos Energy Transition Europe Fund

Triodos Groenfonds

Triodos Emerging Markets Renewable Energy Fund

Triodos Food Transition Europe Fund

Bespoke solutions

Meet the team

Femke Bos

Sonja de Ruiter

Tim Crijns

Willy Bulsink

Judith Santbergen

Florian Bankeman

Adam Kybird

Caspar Sprokel

Frank Streppel

Michiel van Beek

Ricardo Balbuena

Dorian Marquer

Invest for impact

Main

Impact investing

Strategies and solutions

Insights

Triodos IM office

Media enquiries

Investor relations

Funding options

Triodos Microfinance Fund

Triodos Fair Share Fund

Triodos Energy Transition Europe Fund

Triodos Groenfonds

Triodos Emerging Markets Renewable Energy Fund

Triodos Food Transition Europe Fund

Bespoke solutions

Invest for impact

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