Summary of Proposed Investment
Project Number
9842
Company Name
AUREOS CENTRAL AMERICA FUND, L.L.C.
Date SPI Disclosed
Oct 18, 1999
Country
World Region
Industry
other
Status
Completed
Sector
Private Equity/Venture Cap Fund - Regional
Department
Equity Portfolio Management
Environmental Category
FI
Previous Events
Approved : May 8, 2000
Signed : Jul 10, 2002
Invested : Jul 25, 2002
Project Description
Summary Of Project Information (SPI)
| Project Name | Central America - Central America Growth Fund |
RegionLatin America and Caribbean
Sector
Project No009842
Projected Board DateNovember 25, 1999
Company NameCentral America Growth Fund
Technical Partner and/or Major Shareholders
The Central America Growth Fund is an initiative of the Provident Group, an investment banking firm headquartered in New York with offices in San Francisco, Costa Rica, and Guatemala. Steve Carlson is chairman and CEO, and Hans Heckman is president and COO. Provident’s partners in charge of the fund are Christopher Harley and Erik Peterson.
Project Cost Including proposed IFC investment
Total project cost will be up to $50.0 million of which IFC will make an equity investment of the lesser of $10.0 million or 25% of total commitments.
Location of project and Description of site: Central America.
Description of Company and Purpose of Project
The project aims at establishing the Central America Growth Fund, an up to $50 million private equity fund focused on Central America. The fund would target medium-size enterprises with long-term growth and capital appreciation potential. IFC’s will have seats on both the advisory and investment committees of the fund. The fund will fill an important gap in the menu of financing alternatives available to companies in the region, which are now facing capital constraints. In addition, the fund will help improve corporate governance standards in the region by requiring portfolio companies to follow international best practices.
Environmental Category and Issues
This is an FI Type 2 project. The fund manager, Provident, will be required to undertake an environmental review of each subproject. The fund manager must participate in environmental training as may be required by IFC, develop an environmental management system, and provide an annual environmental performance report to IFC.
| Date SPI sent to InfoShop | October 18, 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
Fax: (202) 974-4384
Sponsor / Cost / Location
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