Sierra Madre Fund I (IFC-38633)

Countries
  • Philippines
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
Sep 30, 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
SIERRA MADRE PHILIPPINES FUND I
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)
$ 15.00 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.
Project Cost (USD)
$ 15.00 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 Jul 24, 2018

Disclosed by Bank Aug 29, 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.

Sierra Madre Philippines I (“Sierra Madre I” or the “Fund”) is a 10-year private equity (“PE”) fund which aims to raise $120 million commitments to be invested in small and medium size companies in the Philippines. The Fund plans to make equity investments into sectors that have driven the Philippines’ economic growth. Sierra Madre I will be managed by Sierra Madre Managers Ltd (the “Manager”) supported by Sierra Madre Advisers (the “Advisor”)(together “Sierra Madre”) an independent Manila-based PE firm established in 2016.

Sierra Madre is an independent first-time manager formed in 2016 by Mssrs. Alasdair Thomson, Martin Lorenzo and Danny Lizares. Sierra Madre was formed to raise a series of Philippines-focused PE funds to capitalize on the growing PE investment opportunities in the country. Since the inception, the Founders have significantly built potential pipeline for the Fund as well as recruiting talent with the complementary skill set for the business. The investment team is all based in Manila, Philippine

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

Sierra Madre is an independent first-time manager formed in 2016 by Mssrs. Alasdair Thomson, Martin Lorenzo and Danny Lizares. Sierra Madre was formed to raise a series of Philippines-focused PE funds to capitalize on the growing PE investment opportunities in the country. Since the inception, the Founders have significantly built potential pipeline for the Fund as well as recruiting talent with the complementary skill set for the business. The investment team is all based in Manila, Philippines.


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.

SIERRA MADRE ADVISERS, INC
1F First Lucky Place 2259 Pasong Tamo Extension Makati City 1231 Philippines
Tel. +632 772 0340 info@sierramadre-pe.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