24884 - Lombard Asia III

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Summary of Proposed Investment

Project Number

24884

Company Name

LOMBARD ASIA III LP

Date SPI Disclosed

Jun 7, 2006

Country

East Asia and Pacific Region

Industry

other

Projected Board Date

Jul 27, 2006

Status

Active

Sector

Private Equity/Venture Cap Fund - Regional

Department

Equity Portfolio Management

Environmental Category

Previous Events

Approved : Sep 11, 2006
Signed : Dec 20, 2006
Invested : Apr 11, 2007

Project Description

Lombard Asia III L.P. (Lombard Asia III or the fund) is seeking $300 million to $500 million in capital commitments to build a portfolio of equity and equity-related investments in mid- to late-stage expansion capital and restructuring companies. The fund will concentrate on investment opportunities in the $10 million to $50 million range in the emerging markets of Southeast Asia. Lombard Asia III held a first closing in February 2006 at $153.5 million, with commitments from CalPERS, Asia Development Bank and two Malaysian pension funds.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	20.0

Development Impact

The fund is expected to deliver significant development impacts in the emerging markets of Southeast Asia by providing equity financing for the development of companies:

- While much attention and private equity capital has been drawn to the two largest Asian economies of China and India in the past years, it is still relatively scarce outside these two markets.
- By providing capital and management expertise, the fund will assist in the restructuring and growth of companies as well as the adaptation of environmental and social standards which will facilitate private sector development and lead to economic growth.

In line with the lessons learned from previous funds, IFC’s investment will demonstrate its commitment to supporting existing managers with a good track record.

The proposed investment will help the Manager to reach its target size by attracting further investors, many of which would regard IFC’s absence as an indication of disapproval given IFC’s prominent role in the previous fund.

Partnering with a local fund management team and assisting it in adopting best practices and corporate governance standards.

IFC will use its established network in the region to help the Manager strengthen its investment team and identify possible investment opportunities.

This is a category FI type 2 project according to IFC’s environmental and social review procedure. The fund will be required to develop and implement an Environmental Management System to ensure that its investments are consistent with environmental, health and safety policies of IFC, IFC’s exclusion list, and IFC/World Bank environmental and social policies and guidelines.

The fund will be required to appoint individuals responsible for the implementation of the EMS and to submit annual performance reports.

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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This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. It is not an offer of shares to the public and is intended solely to enhance the transparency of IFC’s activities. This document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC’s Policy on Disclosure of Information that went into effect April 30, 2006.

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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