Ashmore Andean Fund II, LP (IFC-37375)

Regions
  • Latin America and Caribbean
Where the impacts of the investment may be experienced.
Countries
  • Colombia
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
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 6, 2016
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
ASHMORE ANDEAN FUND II LP
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Industry and Trade
  • Infrastructure
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)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported
Converted using 2016-01-06 exchange rate.
Project Cost (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported
Converted using 2016-01-06 exchange rate.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 31, 2018

Disclosed by Bank Nov 20, 2015


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Project Description

This project provides funds to Ashmore Andean Fund II, LP, a private equity fund. Ashmore will use the investment to finance loans and other investments to middle-market, infrastructure-related businesses. The businesses will be primarily in Colombia.

People Affected By This Project

(i) Emerging market private equity industry development: Private equity remains an important source of capital and expertise, particularly for small- and mid-market businesses and projects that IFC cannot invest in directly. IFC continues to play an important role in catalyzing PE industries in its target markets by supporting early entrants into the space and by continuing to back those with sustainable and proven models. (ii) Economic development and job creation: The Fund will provide equity capital to help develop and grow businesses and projects in the region, which will help promote economic growth, regional and global competitiveness, sustainability, and job creation. (iii) Strengthening businesses: The Fund will strengthen businesses from a financial, operational, management, and ESG perspective, thereby helping to make local projects attractive to foreign investors/acquirers, and encouraging further private investment in the region.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

The Fund will be managed by Ashmore Management Company (Colombia) S.A.S. (“Ashmore Colombia”), a Bogotá, Colombia-based fund manager that is a joint venture between Ashmore Group, a UK-based asset management company, and Inverlink, a leading Colombian investment bank. The Ashmore Colombia team is led by Camilo Villaveces, Roberto Perez, and Juan Pablo Fonseca.

Contact Information

Camilo Villaveces
President and CEO
Ashmore Management Company (Colombia) S.A.S.
Calle 73 # 7 - 06 Piso 8
Bogotá, Colombia
T: +57 1 347 0649 Ext 102
E: mailto:camilo.villaveces@ashmoregroup.com.co

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/