Global microfinance private equity investor Bamboo Finance has exited from its investment in TenGer Financial Group, the holding company of Mongolia-based banking institution XacBank, in a sale to a group of investors led by Japan-based leasing company ORIX Corporation. XacBank operates in all of Mongolia’s 21 provinces and the capital city through 97 retail and business branches. Bamboo Finance reportedly expects, in local currency, a 25 percent IRR and a 2x return multiple on its investment. The firm originally invested about US$15 million in July 2009. Financial details of the transaction were not disclosed.