AMERRA III (IFC-37250)

Regions
  • Latin America and Caribbean
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
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
Jun 30, 2017
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
AMERRA CAPITAL MANAGEMENT LLC
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. 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

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
  • International Finance Corporation (IFC)

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.

Private Actors

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

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/