HMC Capital - Andean Private Debt Fund (IDBI-12162-01)

Regions
  • Latin America and Caribbean
Where the impacts of the investment may be experienced.
Countries
  • Chile
  • Colombia
  • Peru
Where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest (IDBI)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jan 20, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
HMC Capital - Andean Private Debt Fund
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IDBI website

Updated in EWS Nov 18, 2019

Disclosed by Bank Nov 15, 2019


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Project Description

IDB Invest ("BIDI") proposes an investment of up to US$20 million or 20% of the commitments (whichever is less) in Fondo de Inversion HMC Deuda Privada Andina (the "Fund" or "Andean Private Debt"). IDB Invest's participation will allow the fund to reach the necessary scale to effectively execute its investment strategy and reach its minimum size. This Fund will provide debt instruments to medium-sized companies in Peru, Colombia, and selectively in Chile. The main target of the Fund will be companies that require customized financial solutions to support growth opportunities and improve their productivity. The fund manager is HMC AGF ("HMC AGF" or the "Fund Manager"), a fund manager based in Chile. The investment is expected to increase the availability of medium-term private debt financing for mid-sized companies in Peru, Colombia and Chile, contributing to close a financial gap for the medium market.

Investment Description
  • IDB Invest (IDBI)
Private Actors
Contact Information

Client Contact Name: Jeanisse Olazabal
Title: Risk Manager
Phone number: +511 480 0147
E-mail address:jolazabal@hmccap.com

 

ACCOUNTABILITY MECHANISM OF IADB

The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).