31631 - Lombard Asia IV

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Summary of Proposed Investment

Project Number

31631

Company Name

Lombard Asia IV LP

Date SPI Disclosed

Feb 3, 2012

Country

Thailand

Industry

Infrastructure

Projected Board Date

Mar 7, 2012

Status

Active

Sector

Private Equity/Venture Cap Fund - Regional

Department

Equity Portfolio Management

Environmental Category

Previous Events

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

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.

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.

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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Local Access of Project Documentation

Lombard Investments, Inc.
Three Embarcadero Center, Ste. 2340
San Francisco, California 94111
USA

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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