Highland PE Mezz (IFC-39831)

Countries
  • Kyrgyzstan
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
  • Multilateral Investment Guarantee Agency (MIGA)
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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."
Borrower
HIGHLAND PRIVATE EQUITY AND MEZZANINE FUND L.P.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • Communications
  • Education and Health
  • Finance
  • Industry and Trade
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)
$ 5.00 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)
$ 30.00 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 Aug 6, 2018

Disclosed by Bank Jan 26, 2018

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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 is an equity investment in the Highland Private Equity and Mezzanine Fund L.P., an institutional investment fund in Kyrgyz Republic, and will be supported by the World Bank Group's Blended Finance Facility. The Fund will then invest in 10 - 15 local small and medium-sized enterprises (SMEs) operating in the consumer, agro-processing, healthcare, education, and telecommunications sectors. 

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

Through the Blended Finance Facility, the World Bank Group is co-investing up to US $5 million.

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.

Highland Private Equity and Mezzanine Fund L.P. (the “Fund”), one of the first institutional investment funds in the Kyrgyz Republic seeking to raise US$30 million to provide risk capital to 10-15 local Small and Medium Enterprises (SME) in the form of equity and quasi-equity financing in the Kyrgyz Republic. The Fund is a generalist with a focus on the consumer sector, agro-processing, healthcare, education and telecommunications.

Highland Capital LLC, the fund manager, is a Bishkek based investment management firm established in 2014.  


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.

Highland Capital 
Mr. Cholponbek Jumashukurov 
Managing Partner 
+ 996 312 961 935 
info@highland.kg 
110 Toktogul Street, 3rd floor, Bishkek, Kyrgyz Republic 
www.highland.kg 

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