Summary of Proposed Investment
Project Number
7819
Company Name
Latin Power II L.D.C.
Date SPI Disclosed
Nov 25, 1996
Country
World Region
Industry
other
Status
Completed
Sector
Private Equity/Venture Cap Fund - Sector
Department
TMT, Venture Capital & Funds
Environmental Category
FI
Previous Events
Approved : Dec 30, 1996
Signed : Dec 15, 1997
Invested : Jan 7, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | Scudder Latin American Power Fund |
| This a private equity investment fund that will make mainly equity investments in private sector power projects in the Latin America and the Caribbean Region. |
| Region | Latin America and the Caribbean |
Sector
Project No007819
Projected Board DateDecember 23, 1996
Company NameScudder Latin Power Fund
Technical Partner and/or Major Shareholders
The Fund will be managed by Scudder,Stevens and Clark a leading investment management firm based in New York City. Scudder Stevens and Clark has over US$100 billion under management in assets invested in more than 35 countries.
Project Cost Including proposed IFC investment
The Fund size is expected to be between US$150-250 Million; including IFC’s equity investment of up to US$10 million.
Location of project and Description of site
The Fund will invest in power projects located in several countries in the Latin America and the Caribbean Region.
Description of Company and Purpose of Project
This will be a private equity fund making mainly equity or equity type investments in private sector power projects in the form of significant minority stakes. The Fund will be a financial investor in the project companies and will not act as principal sponsor or developer of power projects. The purpose of this project is to mobilize substantial capital resources from the international markets for much needed investment in the Power Sector in Latin America
Environmental Category and Issues
This is an environmental review Financial Intermediary (FI) category project. The Fund will invest only in those power projects that comply with World Bank’s environmental, health and safety guidelines. The Fund will not invest in nuclear power generation projects. The project sponsor has conducted environmental due diligence for investments made under a similar fund which it currently manages and will continue to augment their capability to assess environmental impacts as required by the nature of specific projects. All “A” category sub-projects will be reviewed by IFC.
| Date SPI sent to PIC | November 22, 1996 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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