AMERRA III (IFC-37250)

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
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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
Jun 30, 2017
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
AMERRA CAPITAL MANAGEMENT LLC
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
Not Disclosed
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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 27, 2018

Disclosed by Bank May 22, 2017

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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.

AMERRA Capital Management, LLC, (AMERRA) is an investment manager, focused on providing customized agriculture-focused and commodity-based finance solutions to producers, processors, distributors and traders, mainly in the Americas. AMERRA has over US$1.8 billion in assets under management across several funds and accounts managed for single institutional investors. In 2012 and in 2014, IFC approved two medium-term loans to support an AMERRA-managed fund totaling US$60 million which has since been repaid as loans in the debt portfolio began maturing. IFC is currently considering providing two further loans totaling up to US$100 million to help AMERRA in support of its newly launched AMERRA Agri Fund III, L.P. (Onshore III) and AMERRA Agri Offshore Fund III, L.P. (Offshore III), increasing the capital they have to lend (the Project). The two funds will have similar portfolios and the distinction is that Onshore fund is open to most U.S. institutional investors whereas the Offshore Fund is available to non-US institutional investors and tax exempt U.S. investors.

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

AMERRA is a partnership which is 50% owned by Craig Tashjian, Nancy Obler and Pat Morabito as its principals. The balance is held by M.D. Sass-Macquarie Financial Strategies, L.P. (25%) and Macquarie Group Limited (25%). The principals had long and successful careers in banking before AMERRA. M.D. Sass-Macquarie Financial Strategies, L.P. is a joint venture focused on investing in alternative strategies private equity fund managers and is equally owned by M.D. Sass and Macquarie Group Limited (Macquarie). M.D. Sass was founded in 1972 and is a well-established investment management firm based in New York City. Macquarie is based in Australia and is a diversified financial group providing clients with asset management and finance, banking, advisory and risk and capital solutions across debt, equity and commodities (ASX:MQG).

The proposed project entails IFC making up to US$100 million of credit available for up to four and one-half years to support Onshore III and Offshore III.

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.

AMERRA is a partnership which is 50% owned by Craig Tashjian, Nancy Obler and Pat Morabito as its principals. The balance is held by M.D. Sass-Macquarie Financial Strategies, L.P. (25%) and Macquarie Group Limited (25%). The principals had long and successful careers in banking before AMERRA. M.D. Sass-Macquarie Financial Strategies, L.P. is a joint venture focused on investing in alternative strategies private equity fund managers and is equally owned by M.D. Sass and Macquarie Group Limited (Macquarie). M.D. Sass was founded in 1972 and is a well-established investment management firm based in New York City. Macquarie is based in Australia and is a diversified financial group providing clients with asset management and finance, banking, advisory and risk and capital solutions across debt, equity and commodities (ASX:MQG).


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.

Mr. Pat Morabito
Chief Operating and Risk Officer
AMERRA Capital Management, LLC
1185 Avenue of the Americas, 17th Floor
New York, NY 10036
Telephone: 212- 710- 8022
:mailto:pmorabito@AMERRAcapital.com

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

How it works

How it works