52547 - Siguler Guff Global Emerging Markets Growth Opportunities Fund II

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Summary of Investment Information

Project Number

52547

Company Name

Siguler Guff Global Emerging Markets Growth Opportunity Fund II, LP

Date SPI Disclosed

May 23, 2026

Country

India

Region

South Asia

Projected Board Date

Jun 23, 2026

Environmental Category

FI-2 - Limited

Status

Pending Approval

Last Updated Date

May 24, 2026

Department

Equity Portfolio Management

Industry

Funds

Sector

Growth Equity Fund

Project Description

IFC proposes an equity investment of up to US$20 million and an additional co-investment envelope of up to US$20 million under the delegated authority framework in Siguler Guff Global Emerging Markets Growth Opportunity Fund II, LP (Fund II or the Fund), a private equity fund focused on providing growth capital to mid-market companies in India across: (i) Consumer; (ii) Financial Services; (iii) Healthcare and Lifesciences; and (iv) Global Technology.

Associated Advisory Engagement

N/A

Sponsor / Cost / Location

Development Impact

Indicator	Metrics	Comments	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Median Investee IRR : investees	%		Not Available	Not Available	Not Available
Percentage of Investees With Revenue Growth 5 Pps Higher Than Nominal Gdp Growth : investees	%		Not Available	Not Available	Not Available

E&S Category Rationale / Risks and Mitigation

The project entails an equity investment of up to US$20 million in Global Emerging Markets Growth Opportunity Fund II, LP (Fund II or the Fund), and a US$20 million co-investment envelope. The Fund is managed by Siguler Guff Advisers, LLC (Siguler Guff or the Fund Manager).

The key sectors that the Fund will invest in include: (i) Consumer goods and services, (ii) Financial Services (iii) Healthcare and Lifesciences and (iv) Technology in India and selectively in Southeast Asia. The Fund will not invest in higher E&S risk business activities that may include a) involuntary resettlement, b) risk of adverse impacts on indigenous peoples, c) significant risks to or impacts on the environment, community health and safety, biodiversity, cultural heritage d) significant occupational health and safety risks and e) risk of retrenchment. The fund will also not invest in any coal-related activities, activities on the IFC Exclusion List, or any financial institution other than low-medium risk. Hence, the E&S risk of the proposed investment is medium, and the project is categorized as FI-2 according to IFC’s Policy on Environmental and Social Sustainability.

The main E&S risks and impacts of the project derive from the E&S risks associated with the Fund's investee companies and their E&S capacity and systems in place to manage those risks as well as the fund manager’s capacity to adequately assess E&S risks, require corrective actions where needed, and monitor their implementation. The typical risks associated with the sectors of investment include labor and working conditions, occupational health and safety, gender-based violence and harassment (GBVH), supply chain risk, life and fire safety risks, air emissions, wastewater discharge, waste management, handling of hazardous materials, and management of third party/contractors. IFC’s applicable performance requirements for this project will be i) the Exclusion List; ii) the host country laws and regulations; and iii) the IFC Performance Standards.

The Fund Manager has an E&S Management System (ESMS) and E&S officer in place. However, the ESMS is not adequate for this IFC investment. Siguler Guff will be required to develop and implement E&S policies and procedures entailing: (i) categorizing the projects based on the E&S risks and screening of all potential investee companies against IFC’s Exclusion List; (ii) E&S due diligence (ESDD) of all investee companies per the relevant E&S laws and regulations and the IFC Performance Standards; (iii) ESAP and legal covenants in investment agreements; (iii) monitoring of the portfolio companies and (iv) an external communication mechanism in line with IFC PS-1.
The Fund Manager will be required to report on its E&S performance to IFC on an annual basis. IFC will review the Fund’s E&S due diligence (ESDD) for the first three investments after IFC’s commitment.

S.no	Title	Anticipated Completion Date
1	Upgrade the ESMS in line with IFC PS 1 requirements	07/01/2026
2	Conduct Staff training on ESMS	07/01/2026

Contacts

For Inquiries About the Project, Contact

Siguler Guff Advisers, LLC
Shaun Khubchandani
Partner, Co-Head of Emerging Markets

skhubchandani@sigulerguff.com

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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.

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