Summary of Proposed Investment
Project Number
8608
Company Name
ICATU EQUITY PARTNERS LP
Date SPI Disclosed
Nov 5, 1997
Country
Brazil
Industry
other
Status
Active
Sector
Private Equity/Venture Cap Fund - Country
Department
Equity Portfolio Management
Environmental Category
FI
Previous Events
Approved : Dec 11, 1997
Signed : Jun 5, 1998
Invested : Nov 25, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | Brazil-Icatu Equity Partners |
| Region | Latin America & the Caribbean |
| Sector |
Projected Board DateDecember 18, 1997
Company NameIcatu Equity Partners
Technical Partner and/or Major Shareholders
The project’s primary sponsor is Banco Icatu. Banco Icatu is controlled by the Almeida Braga family.
Project Cost Including proposed IFC investment
US$200 million, including IFC’s proposed investment of US$20 million. In addition, IFC would exercise co-investment rights for up to US$10 million to co-invest with the Fund in selected portfolio companies.
Location of project and Description of site
Brazil
Description of Company and Purpose of Project
The project involves establishing Icatu Equity Partners (IEP), a US$200 million private equity fund. IEP will seek influential minority equity positions in Brazilian mid-sized enterprises. A key role for IFC in this project will be to catalyze the flow of additional equity finance in Brazil from a broad base of foreign institutional investors.
Environmental Category and Issues
This is a category FI project according to IFC’s environmental review procedures. Icatu has committed to establishing an environmental management system that will ensure that investments are consistent with applicable host country environmental laws and regulations as well as applicable World Bank environmental, health and safety guidelines and policies; designating appropriate individuals who will have responsibility for environment; attending IFC’s environmental management workshops; submitting an environmental management plan; ensuring that category A projects are cleared by IFC’s Environment Division; and submitting an annual environmental performance report.
| Date SPI sent to PIC | November 5, 1997 |
“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 974-4384
Sponsor / Cost / Location
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