Abraaj ALAF II (IFC-38042)

Regions
  • Latin America and Caribbean
Where the impacts of the investment may be experienced.
Countries
  • Chile
  • Colombia
  • Mexico
  • Peru
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 16, 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
ABRAAJ LATIN AMERICA FUND II LP
The holder of the loan, grant, or other investment.
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, etc.
Investment Amount (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 600.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 26, 2018

Disclosed by Bank May 11, 2016


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

Abraaj Latin America Fund II, L.P. (ALAF II) is raising $600 million to make 12-15 growth equity investments in middle-market companies located in Mexico, Colombia, Peru, and Chile.

The general partner of ALAF II is Abraaj Latin America Fund II GP Limited. The investment manager is Abraaj Investment Management Limited. Both of these entities fall under The Abraaj Group, a global private equity fund manager established in 2002 that invests across Asia, Africa, Latin America, the Middle East and Turkey.

ALAF II will operate and invest in Mexico, Colombia, Peru, and Chile. ALAF II and the general partner are domiciled in the Cayman Islands. Abraaj Investment Management Limited is headquartered in Dubai.

The Fund will seek control or significant minority (with strong minority rights) positions. The Fund is sector agnostic, but will focus on the consumer sector, logistics, manufacturing, education and developing energy generating/trading assets. primarily in Chile, Mexico, Colombia and Peru. While the Fund could potentially invest in activities of high environmental and social (“E&S”) risks, the E&S risks are considered to be low to medium and mainly entail limited adverse E&S risk and impacts (management of waste/wastewater/air emissions and occupational health and safety of employees) that are few in number, generally site-specific, largely reversible and readily addressed though appropriate mitigation measures. Therefore this project has been classified as Category FI-2 according to IFC’s Environmental and Social Review Procedure.

Investment Description
  • International Finance Corporation (IFC)

ALAF II is targeting $600 million in total commitments. The proposed IFC equity commitment is up to $20 million, not to exceed 20% of aggregate capital commitments.

Private Actors

Abraaj Latin America Fund II, L.P. is raising $600 million to make 12-15 growth equity investments in middle-market companies located in Mexico, Colombia, Peru, and Chile.

Contact Information

Mr. Mujtaba Hussain
Office Address: 3rd Floor, GV08, DIFC, Dubai, P.O.Box 504905, UAE
Contact No.: +971 4 506 4400
Email Address: mujtaba.hussain@abraaj.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/