How to Contact Us Please contact IFC’s Private Equity and Investment Funds Department for further information. Africa Latin America and the Caribbean Ralph Keitel Umberto Pisoni Phone: 1 (202) 458-5723 Phone: 1 (202) 473-9143 Email: RKeitel@ifc.org Email: UPisoni@ifc.org Central and Eastern Europe Middle East and Northern Africa IFC’S Approach The IFC Advantage Milena Dermendjieva Phone: 1 (202) 473-4061 Email: MDermendjieva@ifc.org Hany Assaad Phone: 20-2-2461-9140 Email: HAssaad@ifc.org Private Equity and What We look for • Emerging, promising fund managers for funds • Fund structuring to international standards East and South Asia Southern Europe and Central Asia Investment Funds Azam Khan Abdellatif Kabbaj • A disciplined approach to managing funds • Catalyst for other institutional investors Phone: 1 (202) 473-1663 Phone: 1 (202) 473-8248 opportunities in financial markets • Cohesive management teams • Active participation through advisory boards and Email: AKhan@ifc.og Email: AKabbaj@ifc.org • A mix of technical and operational experience committees • Commitment to corporate governance, transparency, • Leveraging skills within IFC and regional/industry Xiaomei (Olivia) Ouyang Small and Medium Enterprises and good practices expertise Phone: 1 (202) 458-8248 Peter Tropper • Promotion of environmental and social sustainability Email: XOuyang@ifc.org Phone: 1 (202) 458-9124 • Compliance with international environmental Email: PTropper@ifc.org standards • Willingness to work with IFC regional offices and for investee companies generate co-investment opportunities for IFC • Growth/regional expansion Haydee Celaya David Wilton Ayaan Adam • Labor productivity Director New Business Manager Portfolio Manager How We invest • Job creation Email: HCelaya@ifc.org Email: DWilton@ifc.org Email: AAdam@ifc.org • Follow “counter-cyclical” principle • Gender empowerment • Survey markets • Conduct extensive due diligence on the team for the private equity sector • Screen potential fund investors including anti-money • Organizing the IFC Annual Global Private Equity laundering Conference • Promoting industry best practice sectors • Speaking at industry events • Venture/Growth Capital • Participating in private equity classes at MBA programs • Health/Education • Liaising between investors and fund managers • Small and Medium Enterprises • Clean Technology • Infrastructure • Agribusiness • Distressed Assets IFC Private Equity & Investment Funds Department 2121 Pennsylvania Ave., NW, MSN 4P-404 Washington, DC 20433, USA ifc.org/funds 2008 partnerinG for success advent lapef IFC supported Advent’s Latin American team at a time when fundraising for private equity in the region was at a historic low following the macroeconomic crises of the late 1990s. Advent went on to build one of the most successful funds in the region through a strong and consistent performance during difficult times. It recently closed a $1.3 billion fund, attracting global investor interest, at which point IFC’s participation was no longer necessary. Baring Vostok capital IFC started investing in BVCP when it launched its first Central Europe partners (BVcp) fund in 1994 as one of the first private equity funds The IFC Difference (11%) in the former Soviet Union. Since then, the firm has invested more than $600 million in nearly 50 companies, including CTC Media, Golden Telecom, Burren Energy, Washington, D.C. Southern Europe and Yandex. In 2007, BVCP closed its fourth fund with IFC, a member of the World Bank Group, focuses on the private sector to promote growth, reduce poverty, and im- (Global funds 5%) (10%) capital commitments of $1.5 billion from institutional investors from Europe, Asia, and North America. prove people’s lives in developing countries. IFC is the world’s largest multilateral financier for companies that do business in emerging markets.We finance and advise clients to support profitable and sustainable business develop- Middle East & North Africa South Asia East Asia cDH china CDH China is one of the first and most successful (6%) indigenous fund management organizations in China. ment in these markets. (4%) (26%) In 2002, IFC was an anchor investor with a $20 million equity commitment to its maiden fund, CDH China I, Established more than 50 years ago and owned by 181 shareholder countries, IFC has unparalleled experience in help- and subsequently supported its follow-on fund in 2005 and venture fund in 2006. CDH China is now the lead- ing private companies succeed in emerging markets worldwide—we are global. ing alternative investment fund manager in China, with We are also local—with offices in more than 80 countries and active programs in many others. IFC: A Global Partner $3 billion under management. emerging capital ECP is the first private equity group to raise more than partners (ecp) $1.2 billion for investment in companies across the We can work with clients anywhere in the developing world. Behind every IFC venture is a strong network that links African continent. IFC was a leading investor in ECP’s AIF people, institutions, ideas, and capital. We are your connection to success in the emerging marketplace. Latin America & IFC Regional Hubs Infrastructure Fund, a $407 million private equity fund. The fund invested in 15 companies. ECP is now launch- the Caribbean (22%) () Private Equity fund ing two new funds for Africa: ECP III, a $1 billion fund, In fiscal year 2008, IFC committed $11.4 billion and mobilized an additional $4.8 billion through syndications and portfolio allocation and the West Africa Real Estate Fund. Sub-Saharan Africa structured finance for 372 investments in 85 developing countries. IFC also provided advisory services in 75 coun- (16%) IFC Headquarters lombard thailand LTIF was the first private equity fund set up after the tries. Since our founding in 1956, we have committed more than $75 billion of our own funds and arranged more intermediary fund Asian financial crisis to restructure distressed Thai than $30 billion in syndications for over 4,000 companies in 142 developing countries. We have also provided more (ltif) companies. IFC was an anchor investor with a $37.5 million equity commitment, and helped LTIF provide than $1 billion in advisory services in the past 20 years, funded by IFC and our development partners. growth capital, operations guidance, and governance assistance to 14 Thai companies. Today LTIF remains creatinG opportunitY WitH invested in more than 550 companies in about 70 countries. • 78 percent of these investments are with first-time fund the largest dedicated Thai fund and one of the most emerGinG funD manaGers IFC’s commitment to private equity funds in the emerging managers successful funds in Southeast Asia. markets continues to grow. • More than half of these funds target SMEs Private equity funding plays an important role in the maghreb private IFC committed to invest in the Maghreb Private Equity Our Shared Vision is that people should have the opportunity to escape poverty and IFC: Key Facts development of private sector companies, especially in small IFC seeks new ways to bring both capital and expertise to • Other IFC-sponsored funds include those investing in equity fund ii Fund II (MPEF II), sponsored and managed by Tuninvest. The fund is one of the largest funds investing in SMEs Credit Rating: AAA (Moody’s, Standard & Poor’s) and medium enterprises (SMEs). In the developed world, market segments where there is little or no private equity climate change mitigation and infrastructure in the Maghreb Region of Algeria, Morocco, and Tunisia. improve their lives. private equity fundraising has increased steadily in the past five activity. Companies receive long-term equity financing as well Since its first closing in August 2006, the fund has committed more than £25 million in 12 investments in Our Core Corporate Values are Portfolio: $32.4 billion, representing 1,490 investments years representing 2.3 percent of GDP in the U.K. and as: support for business strategy; governance and transparency private equity & investment funds – key facts a diversified range of industries including food in 122 countries (as of June 30, 2008) 1.7 percent in the U.S., but it remains at much lower levels in standards; environmental management systems; accounting • IFC began investing in private equity funds in the 1990s, processing, packaging, information technology, tourism, • Excellence emerging markets. and internal controls; and human resources and management but refined its approach after 2000 media, automotive parts, pre-fabricated construction • Commitment manufacturing, and higher education. Total Staff: Approximately 3,300 (more than 50 percent development. • Integrity Since 2000, IFC has supported the growth of good emerging • Number of funds: 135, as of May 2008 are based in country offices worldwide) Zephyr-nexxus IFC brought together two professional fund managers • Teamwork market fund managers. We have built a strong track record of fY08 at a Glance • Commitments: $1.9 billion, represents IFC’s total committed mexico trust – Zephyr Management, a New York-based team, and Investments Committed in FY08: 372 in 85 countries identifying opportunities to invest in emerging market fund portfolio to active funds1 team, and Nexxus Capital, a Mexican private equity Our Purpose is to managers, many of whom have gone on to achieve regional • In FY2008, IFC expects to approve in excess of $800 million group – and supported them in launching ZNM Trust, • Promote open and competitive markets Industry Coverage: success in the sector. In the past, IFC has pioneered investment to over 30 new private equity funds • Geographic presence of investees: More than 70 countries one of Mexico’s first private equity funds. In 2004, ZNM Trust divested its ownership stake in Homex, an afford- in developing countries • Global financial markets; private equity and investment in regions such as Asia and Africa. Today IFC continues to • 60 percent of these funds are investing in poor countries • Estimated net internal rate of return (IRR) since 2000: More able housing company, by performing a dual IPO on • Support companies and other private sec- funds explore ways to adapt the private equity fund model to reach assisted by the World Bank’s International Development than 21% the NYSE and the Mexican stock market. Homex has tor partners emerging markets in frontier regions and developing sectors, Association (IDA countries are those with the lowest GDP continued to grow and attract investors. The ZN team • Generate productive jobs and deliver ba- • Global manufacturing and services; agribusiness; health per capita) also launched a follow-on fund, ZNM II, with similar and to support a new generation of emerging fund managers. investment focus as the first fund. IFC also supported sic services and education • More than 25 percent of the investments are in Sub-Saharan the local team in launching its first 100 percent owned • Create opportunities for people to escape • Infrastructure; information and communication tech- As of 2008, IFC’s outstanding commitments to private equity African countries ____________________________________________ and managed fund, Nexxus Capital. poverty and improve their lives nologies; oil, gas, mining and chemicals; subnational funds exceed $1.9 billon invested in 135 funds. IFC’s Annual Report lists Private Equity Funds Department’s commitment as $1.1 billion and represents 1 finance To date, investments by IFC-supported funds total $19 billion IFC’s total committed portfolio net of returned capital and write-offs.
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