Summary of Proposed Investment
Project Number
9281
Company Name
Capital Alliance Private Equity (Mauritius), Ltd.
Date SPI Disclosed
Aug 25, 1999
Country
Nigeria
Industry
other
Status
Active
Sector
Private Equity/Venture Cap Fund - Country
Department
Equity Portfolio Management
Environmental Category
FI
Previous Events
Approved : Oct 5, 1999
Signed : Jan 25, 2000
Invested : Apr 14, 2000
Project Description
Summary Of Project Information (SPI)
| Project Name | Nigeria - CapeFund |
RegionSub-Saharan Africa
Sector
Project No009281
Projected Board DateSeptember 24, 1999
Company NameCapital Alliance Private Equity Fund
Technical Partner and/or Major Shareholders
The Capital Alliance Private Equity Fund is sponsored by Africa Capital Alliance (ACA) which is also the sponsor of South Africa Capital Growth Fund (SACGF) in which IFC has invested. The fund is expected to have both local and international investors.
Project Cost Including proposed IFC investment
Total project cost is estimated at US$30 to US$40 million. The IFC component is US$7.5 million.
Location of project and Description of site
Nigeria and West Africa.
Description of Company and Purpose of Project
The project is a new private equity fund, focussed on Nigeria and intended to invest in expansion/replacement capital for companies with significant growth prospects; joint venture investments with foreign companies seeking to establish or re-establish operations in Nigeria; and management buyouts and buyins. The fund will have a two-tier structure consisting of the fund, which will be a 10-year life company, and a separate management company.
Environmental Category and Issues
This is a Category FI Type 2 project according to IFC’s environmental and social review procedure. The Fund Manager has agreed to undertake an environmental review of each subproject. The Fund Manager has also agreed to participate in environmental training as required by IFC, develop an environmental management system, and provide an annual environmental performance report to IFC.
| Date SPI sent to InfoShop | August 25, 1999 |
“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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