Multicountry: Project Chamonix (AIIB-000844)

Regions
  • World
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Apr 17, 2024
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Chamonix Partners Capital Management
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Communications
  • Energy
  • Finance
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 61.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 61.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 306.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ AIIB website

Updated in EWS Apr 13, 2026

Disclosed by Bank Apr 8, 2026

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the AIIB, the project development objective is to support the expansion of the infrastructure securitization market, thereby fostering greater mobilization of private capital into AIIB emerging market members.

The project involves the acquisition and securitization of infrastructure assets in AIIB emerging market (EM) members. This is achieved through the proposed investment of up to USD61 million into the debut infrastructure collateralized loan obligations (CLO) (alternately referred to as infrastructure asset-backed securities [ABS]) issuance sponsored by Chamonix Partners Capital Management (Chamonix).

The issuance is expected to be internationally marketed through two special purchase vehicles (SPV) one incorporated in Jersey, United Kingdom and the other incorporated in Delaware; AIIB will subscribe to the Notes issued by the Jersey SPV. The issuance size is expected to be USD306 million across senior, mezzanine and equity tranches and follow a similar structure as previous infrastructure CLOs.

The underlying portfolio comprises project and infrastructure finance loans originated by Natixis, focusing on global EM. The portfolio features a strong sustainability theme with over 80 percent exposure to renewable energy and digital infrastructure assets, reflecting the growing demand for such assets in the target geographies. The remainder will be allotted to other core infrastructure assets.

Natixis is the originating bank of the loan assets which are selected by Chamonix for the portfolio, which will adhere to the corporate policies of Natixis with respect to restrictions on, inter alia, coal, thermal mining, and companies with significant operations in these areas. In addition, no upstream oil or gas assets will be included in the CLO portfolio. As an added impact of AIIB's support, Natixis will undertake to originate new green infrastructure financing in AIIB members at least equal to AIIB's commitment amount which may be securitized in the future by Chamonix.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the AIIB, Chamonix is an infrastructure and real assets-focused manager, an affiliate of Natixis SA (Natixis SA or Natixis) and part of the Global Financial Services arm of Groupe BPCE, one of the largest banking groups in Europe and globally.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Groupe Banque Populaire Caisse d'Epargne - BPCE Parent Company Finance owns Natixis S.A. Parent Company Finance

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

AIIB Team Leaders:

Han Zhao - Senior Investment Officer
Email: han.zhao@aiib.org

Eddie Yuheng Wang - Investment Associate
Email: yuheng.wang@aiib.org

Financial Intermediary - Chamonix Partners Capital Management LLC: 

Michael Robert Sierko - Chief Executive Officer
Email: Mike.Sierko@chamonixpartners.com

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.aiib.org/en/contact/information-request/index.html

ACCOUNTABILITY MECHANISM OF AIIB

The AIIB has established the Accountability Mechanism for Project-Affected People (PPM). The PPM provides Òan opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIBÕs failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.Ó Two or more project-affected people can file a complaint. Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply. You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html

The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html

How it works

How it works