Metier Capital Growth Fund II (IFC-37516)

Regions
  • Africa
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
Jan 15, 2016
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
Metier Private Equity (Pty) Ltd
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
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 18.60 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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 1, 2018

Disclosed by Bank Feb 26, 2016

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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.

This project finances IFC investments in mid-market growth and replacement capital transactions, specifically in high-growth opportunities in order to construct a portfolio of investments diversified by sector and deal type and to capture mid-market growth opportunity in Sub-Saharan Africa.

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

This project entails an IFC equity investment for the lesser of ZAR 300.0 million or US $22 million, not to exceed 20% of total commitments, in Metier Capital Growth Fund II, a 10 year closed-end fund seeking to raise up to ZAR 3 billion. The manager of Metier Capital Growth Fund II is Metier Private Equity Proprietary Limited, a private company incorporated in accordance with the laws of South Africa and a Category II authorized financial services provider in terms of the Financial Advisory and Intermediary Services Act, 2002. Metier Private Equity Proprietary Limited is a full investment house with capabilities in advisory, corporate law services, and back-office compliance, and was founded in 2003, although its founding members have worked together since 1986. With 15 professionals across the investment, legal and finance functions, Metier’s team has deployed US$1.25 billion (at deployment FX rates), with over 82 transactions returning an estimated 2.6X cash at a 36% IRR with 85% investment realization. The investment team will be responsible for deal origination and structuring, value creation and exits, and is comprised of investment professionals with operational and technical support from the larger Metier Private Equity Proprietary Limited network.

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.

Metier Capital Growth Fund II is a 10 year closed-end fund seeking to raise up to ZAR 3 billion. The key objective of Metier II is to construct a portfolio of investments diversified by sector and deal type, which collectively capture the attractive mid-market growth opportunity in Sub-Saharan Africa. 

The Fund Manager is Metier Private Equity Proprietary Limited (‘Metier’), registration number 2012/004607/07, a private company incorporated in accordance with the laws of South Africa and a Category II authorized financial services provider in terms of the Financial Advisory and Intermediary Services Act, 2002 (FSP No 44882). The founders of Metier represent one of the more experienced private equity teams in the region, having worked together for over 30 years (when they were part of Brait) and stable and growing since. Metier is a full investment house with capabilities in advisory, corporate law services, and back-office compliance. Metier was founded in 2003, although its founding members have worked together since 1986. With 15 professionals across the investment, legal and finance functions, Metier’s team has deployed US$1.25 billion (at deployment FX rates), with over 82 transactions returning an estimated 2.6X cash at a 36% IRR with 85% investment realization.


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.

J-P Fourie
Tel: +27 (0) 11 268 4075 (direct)
Tel: +27 (0) 11 268 4000 (switchboard)
Mobile: +27 (0) 82 497 3385
e-mail: jp@metier.co.za
Metier Investment & Advisory Services (Pty) Limited
2nd Floor, 5 Commerce Square, 39 Rivonia Road
Sandhurst, South Africa
Private Bag X11, Northlands, 2116, South Africa

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/

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How it works