Central America Mezzanine Infrastructure Fund II (IFC-32338)

Regions
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
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
Dec 9, 2013
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
Latin American Partners
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity, Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 30.00 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)
$ 12.50 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)
$ 30.00 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.
Campaign Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS May 14, 2024

Disclosed by Bank Nov 5, 2013

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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.

The Central American Mezzanine Infrastructure Fund II LP (“CAMIF II” or the “Fund”) is a follow-on fund to the existing CAMIF fund (“Fund I”), in which IFC is currently an investor. Like Fund I, CAMIF II is a 12 year mezzanine Fund that will invest in operating and new (brownfield and greenfield) medium-sized companies/projects in infrastructure and related sectors in Central America, the Caribbean, Mexico and Colombia. The Fund will make subordinated long-term US dollar loans, with current coupon and equity participation features as well as straight equity investments. The Fund will be managed by a subsidiary of LAP Latin American Partners LLC (“LAP”). A first closing of US$80-150M is expected in November 2013 and a second closing reaching the target amount of $250M is expected up to one year later.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Loan - USD12.50

Equity - 17.50

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.

According to Pitchbook, Central American Mezzanine Infrastructure Fund II is a mezzanine fund managed by Latin American Partners. The fund is located in Mexico City, Mexico. The Fund focuses on traditional infrastructure, such as power (generation, transmission, distribution, and renewable energy), transportation (railroads, toll roads, airports, ports, cargo terminals, and other logistics), telecommunication, and water & sanitation. In addition, CAMIF II can invest in natural resources (including agribusiness and other selected sub-sectors), health & education, and other sectors such as housing, real estate, industrial parks, manufacturing, and tourism. 
Founded in 2008, Latin American Partners is an infrastructure investment firm based in Washington, District of Columbia. The firm has regional offices based in Mexico City, Mexico, and Tegucigalpa, Honduras. The firm focuses on middle-market growth-stage infrastructure companies based in Latin America and the Caribbean.


Contact Information
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ACCESS TO INFORMATION

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ACCOUNTABILITY MECHANISM OF THE WORLD BANK

The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. Information on how to file a complaint and a complaint request form are available at: https://www.inspectionpanel.org/how-to-file-complaint

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