Enfoca Asset Management Ltd., a Cayman Islands exempted company, is the general partner of the Fund (the “General Partner”). The General Partner has appointed Enfoca Sociedad Administradora de Fondos de Inversión S.A. (“Enfoca SAFI”), a regulated Peruvian-based fund manager, as advisor. The General Partner’s shareholders are Enfoca Investment Ltd., owned by the principals, and other Peruvian shareholders. The advisor, Enfoca SAFI, was founded in January 2007 with the objective of developing, managing and raising capital for investment funds, including private equity funds, real estate funds and distressed assets funds, among others. Enfoca SAFI will leverage its founders’ expertise and track record. Enfoca Investments Ltd. is also the major shareholder of Enfoca SAC, a leading investment banking boutique in Peru. Enfoca Investment Ltd. is a prestigious financial group with a decade of work in investment banking and asset management in Peru. As a group, Enfoca has vast experience in main sectors of the Peruvian economy: mining, fishing, textile, agribusiness, retail, consumer goods, pharmaceutical, construction, financial institutions, public sector, and real estate.

The Fund has a target size of $150 million. It is proposed that IFC invest up to $15 million.

15.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	15.0

* These investment figures are indicative

The Fund will be formed as a Cayman Islands exempted limited partnership organized to operate as a private investment partnership and will have a local investment team based in Lima, Peru. The Fund will seek investment opportunities primarily across Peru and opportunistically across neighboring Andean countries.

The Fund is expected to have a strong impact for private sector development as follows: - Private sector development: The Fund will add value to its investee companies, by providing managerial, operational and strategic support to improve their competitiveness and sustainability -Economic development: The Fund is expected to invest in high-growth companies aiming to increase output, which in turn should lead to increased employment rates. - Environmental practices: The Fund Manager will adopt international best practices for environmental and social risk assessment and management, and improve transparency and corporate governance, thus transferring knowledge and skills to portfolio companies

IFC’s role includes: - Catalytic role mobilizing additional institutional capital: IFC’s commitment will broaden Enfoca’s investor base and help attract additional interest from institutional investors. - Providing input on fund structure and terms: Drawing from previous experience, IFC will work with the Fund Manager in adopting best practice market terms that will attract private capital. - Improving corporate governance: IFC will play an active governance role through its participation on the Fund’s Advisory Board.

This project has been classified as a Category FI project according to IFC’s Environmental and Social Review Procedure. During appraisal, IFC will analyze the investment vehicle’s expected portfolio and sectors of investment and determine the Applicable Performance Requirements if any, that would include a combination of: The IFC FI Exclusion List, The applicable National Social and Environmental Laws and regulations, and/or The IFC Performance Standards.

IFC will also review, if required, the capacity of the investment vehicle to manage social and environmental risks and to establish and maintain a Social & Environmental Management System (SEMS). IFC may suggest Supplemental Actions to address any gaps in the SEMS if required. The Investment Manager will be required to: Develop an, or upgrade, if necessary, any existing SEMS, prior to disbursement to the satisfaction of IFC; Identify responsible, qualified persons to manage and implement the SEMS; Commit to implement the SEMS to ensure that its investments/activities are in compliance with the Applicable Performance Requirements; Submit a periodic report to IFC as per a format to be provided by IFC.