31631 - LOMBARD ASIA IV, LP

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Summary of Investment Information

Project Number

31631

Company Name

Lombard Asia IV LP

Date SPI Disclosed

Feb 3, 2012

Country

Thailand

Region

East Asia and the Pacific

Projected Board Date

Mar 27, 2012

Environmental Category

FI-3 - No Impact

Status

Active

Last Updated Date

Sep 12, 2024

Department

Equity Portfolio Management

Industry

Funds

Previous Events

Approved : Mar 27, 2012
Signed : Mar 30, 2012
Invested : Nov 1, 2012

Sector

Growth Equity Fund

Project Description

Lombard Asia IV L.P. (Lombard Asia IV or the Fund), a Cayman Islands exempted limited partnership, is a private equity fund seeking $400 million in capital commitments to build a portfolio of equity and equity-linked investments in middle market, growth-oriented companies formed and operated in Southeast Asia.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	25.0

Development Impact

The Fund would help its portfolio companies create jobs, potentially covering the rural areas and increasing female employment. The Fund would help private sector development through supporting growth and operational improvement of its portfolio companies. The Project would support private equity investments in the Fund's target markets, helping develop the financial markets in its target countries.

Through this investment, IFC would support a fund manager in countries where private equity capital is still very scarce. IFC's investment in the Fund is expected to demonstrate confidence in the Fund Manager, catalyzing commitments from other investors, especially in the current tough fund raising environment. In addition, IFC would be able to share its network and experience in countries where the Fund Manager has relatively limited experience. Finally, through co-investment, IFC would be able to work together with the Fund Manager to invest in deals that otherwise would be too big for the Fund to invest in by itself.

E&S Category Rationale / Risks and Mitigation

This is an investment with a repeat client which has a good commitment to manage Environmental & Social (E&S) risks associated with its activities consistent with IFC’s E&S requirements, including mechanisms to screen existing and potential portfolio investees against IFC Performance Standards. Discussions with the client and review of the client’s 2010 annual environmental performance report of their previous funds in which IFC invested indicated that although the Fund Manager has adopted IFC''s E&S requirements as its E&S policy, an updated formal SEMS would need to be developed before commitment. This has been agreed to by the client.
This project has been classified as Category FI. Applicable requirements include the IFC FI Exclusion List, national legal requirements and IFC Performance Standards. The client will be required to prepare a SEMS, including a mechanism to receive and review regular E&S reports from investees classified by the SEMS as category A or B.

In accordance with IFC's Access to Information Policy, IFC will periodically disclose the names, locations and sectors of sub-projects that have been supported by IFC investments through private equity funds, subject to regulatory constraints and market sensitivities. The sub-project(s) listed below reflect(s) the status of the portfolio as of January 1, 2025.

Investee	Country Of Investment	Sector
Express Food Group Co., Ltd.	Cambodia	U-AE - Other (Including Restaurants, Amusement Parks, etc.)
Pomelo Fashion Pte. Ltd.	Thailand	O-ME - Online payments, ecommerce payments
Cobra Advanced Composites Company Limited	Thailand	M-CG - Motor Vehicle Parts
HASFARM HOLDINGS LIMITED	Viet Nam	A-AH - Flowers and Ornamental Plants
EFG	Cambodia	Q-BZ- Other Retail
JWD	Thailand	E-BD- Other Support Activities for Transportation (Grain Terminals, Cargo Terminals)
Silkspan	Thailand	O-JB- General Insurance (Non-Life)
Viet Uc	Viet Nam	A-BC- Animal Aquaculture

Contacts

For Inquiries About the Project, Contact

Thomas J. Smith, Managing Director
Lombard Asia Advisors LLC
c/o Lombard Investments, Inc.
Three Embarcadero Center, Ste. 2340
San Francisco, California 94111
USA
Telephone: 415 397 5900
Fax: 415 397 5820
email: tsmith@lombardinvestments.com
web: www.lombardinvestments.com

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IFC supports its clients in addressing environmental and social issues arising from their business activities by requiring its real sector clients to set up and administer appropriate grievance mechanisms and/or procedures to address complaints from Affected Communities in relation to environmental and social issues arising from IFC's clients' business activities. Since 2012, IFC's Financial Intermediary clients applying the Performance Standards are required to develop External Communications Mechanisms to receive and review inquiries or complaints from any interested party regarding the E&S risks and impacts of their operations.

For IFC projects that are active or under consideration, individual(s), or their authorized representative(s), who allege they have been or will be adversely affected by E&S risks or impacts arising from IFC's clients' business activities, may submit a complaint to IFC directly for consideration. When receiving an E&S complaint, IFC engages with complainants and works with its clients to find solutions to E&S concerns as quickly and efficiently as possible.

Complaints can be submitted to IFC online at www.ifc.org/escomplaints or by email to EScomplaints@ifc.org.

IFC complaint response is separate from and complementary to IFC’s clients’ project level grievance mechanisms and IFC’s Independent Accountability Mechanism (CAO). Lodging a complaint directly with IFC does not, at any time, restrict access to CAO.

Affected communities have unrestricted access to the Compliance Advisor Ombudsman (CAO), the independent accountability mechanism for IFC and MIGA. CAO facilitates the resolution of complaints related to IFC and MIGA projects and sub-projects, undertakes reviews of IFC’s and MIGA’s environmental and social compliance, fosters public accountability for their commitments, and enhances the environmental and social performance of IFC and MIGA.

Independent of IFC and MIGA management and reporting directly to the IFC and MIGA Boards of Executive Directors, CAO helps resolve issues raised about the environmental and social impacts of projects through a neutral, collaborative, problem-solving approach via its Dispute Resolution function. It also reviews IFC’s and MIGA’s compliance with environmental and social policies, assesses related harm, and recommends remedial actions through its Compliance function. Additionally, CAO provides advice to IFC, MIGA, and their Boards to enhance environmental and social sustainability performance and minimize the risk of harm.

Complaints may relate to environmental and social harm regarding any aspect of the planning, implementation, or impact of a project or sub-project, and can be made by any individual, group, community, entity, or other party affected or likely to be affected by the environmental or social impacts of an IFC- or MIGA-financed business activity.

Complaints can be submitted by any of the following methods:

Online form: available at https://www.cao-ombudsman.org/
Mail/Hand Delivery to: 2121 Pennsylvania Avenue, NW, Washington, DC 20433, USA
Voice mail: +1 202 458 1973
Email: cao@worldbankgroup.org
SMS, WhatsApp, Telegram, and Signal: +1 202 650 2627

CAO receives and addresses complaints in accordance with the CAO Policy, which can be accessed at: https://www.cao-ombudsman.org/policies-guidelines.

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. It also includes findings and recommendations related to environmental and social considerations regarding this potential investment. The purpose of the SII is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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