30354 - IFC Global Infrastructure Fund

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Summary of Proposed Investment

Project Number

30354

Company Name

IFC GLOBAL INFRASTRUCTURE FUND, LP

Date SPI Disclosed

Mar 10, 2011

Country

World Region

Industry

Infrastructure

Projected Board Date

Apr 12, 2011

Status

Active

Sector

Private Equity/Venture Cap Fund - Sector

Department

Equity Portfolio Management

Environmental Category

Previous Events

Approved : May 19, 2011
Signed : Mar 15, 2013
Invested : Apr 26, 2013

Project Description

IFC proposes to establish the IFC Global Infrastructure Fund (the “GIF”), a $1 billion private equity fund. Infrastructure is central to economic growth, living standards improvement, and broader development, and there are considerable infrastructure development needs in emerging markets. Governments in emerging markets are increasingly turning to the private sector to develop infrastructure projects; however, the availability of long term private sector equity capital for such projects is proving to be a constraint. IFC sees an opportunity to alleviate this constraint by mobilizing private sector/institutional funding to co-invest in IFC funded projects.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	200.0

Development Impact

This Project is expected to deliver strong development impact by: (i) mobilizing additional capital for infrastructure investments and thereby ensuring a larger number of projects are completed; (ii) enabling IFC to invest in more projects because project risk exposure will be shared by Fund Investors which will increase the number of projects that will adhere to IFC Performance Standards; (iii) demonstrating that emerging markets infrastructure investments present an attractive investment opportunity; (iv) investing in frontier regions; and, (v) introducing large international investors to investing in infrastructure in the emerging markets in a sustainable manner.

This Fund will mobilize additional equity capital to the growing infrastructure needs in the emerging markets, particularly to non-BRIC countries that currently receive limited funding from large institutional investors. IFC’s additionality is its proven excellent track record in investing in Emerging Market infrastructure projects and companies. This should convince large institutional investors that are not comfortable with direct investments in Emerging Markets, particularly non-BRIC countries, to take on exposure to these markets by indirect investment via the proposed Fund.

The successful implementation of the Fund should demonstrate that infrastructure investment in Emerging Markets, and particularly in non-BRIC countries, is commercially viable and attractive. This should then encourage increased private equity financing in frontier emerging markets.
Infrastructure investments in general have longer gestation periods which require longer investment horizon. This Fund has been structured to have a longer investment period and fund life than most private equity funds and it is expected to have a longer investments holding period

Contacts

For Inquiries About the Project, Contact

Zibusiso M. Sibanda
External Communications Officer
IFC Infrastructure and Natural Resources Department
Washington, DC
Tel: +202 473 0605

For Inquiries and Comments About IFC, Contact

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IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster

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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