Abraaj Global Credit Fund LP (IFC-40007)

Regions
  • World
Where the impacts of the investment may be experienced.
Specific Location
Africa, Asia, Latin America, the Middle East and Turkey
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Sep 18, 2017
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 Global Credit Fund GP 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)
$ 500.00 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 Sep 14, 2018

Disclosed by Bank Jul 12, 2017


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Project Description

According to IFC website, Abraaj Credit Managers Limited is seeking to raise up to US$500 million for the Abraaj Global Credit Fund to provide growth capital in the form of direct lending to mid-sized companies principally across consumer-driven sectors in Africa, Asia, Latin America, the Middle East and Turkey. The expected development impacts of the project are:

1. Access to finance: AGCF will support access to finance to high-growth mid-market companies that have traditionally suffered from limited long-term debt capital, necessary to sustain their growth. The Fund will provide capital solutions via growth credit and mezzanine debt financing, as an attractive and viable alternative to equity.
2. Private sector development: Abraaj's active engagement in portfolio companies will help investees improve operational efficiency and achieve growth when they lack access to finance.
3. Job creation and economic growth: The proposed investment will contribute to the World Bank Group's goals of poverty alleviation by promoting job creation. The Fund will provide an important source of financing for high-growth mid-cap companies that are expected to create new employment opportunities and historically have the largest impact on job creation.

Investment Description
  • International Finance Corporation (IFC)

Project Sponsor and Major Shareholders of Project Company:

The General Partner of AGCF is Abraaj Global Credit Fund GP LP. The Manager is Abraaj Credit Managers Limited. Both entities are part of The Abraaj Group, a global private equity fund manager established in 2002 that invests across emerging markets in Asia, Africa, Latin America, the Middle East and Turkey.

Private Actors
  • Abraaj Credit Managers Limited -- Fund Manager
  • Abraaj Global Credit Fund -- Financial Intermediary

The General Partner of AGCF is Abraaj Global Credit Fund GP LP. The Manager is Abraaj Credit Managers Limited. Both entities are part of The Abraaj Group, a global private equity fund manager established in 2002 that invests across emerging markets in Asia, Africa, Latin America, the Middle East and Turkey.

Contact Information

Project Contact: Christopher Wilder, Managing Director
Abraaj Global Credit Fund
Telephone No.: +44 203 540 1526
Email Address: Christopher.wilder@abraaj.com
Office Address: 1 Grafton Street London, W1S 4FE, United Kingdom
Website: www.abraaj.com

General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

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