DARP SPV CW2 (IFC-40665)

Regions
  • East Asia and Pacific
Where the impacts of the investment may be experienced.
Countries
  • China
  • India
  • Indonesia
  • Philippines
  • Thailand
  • Vietnam
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
Mar 23, 2018
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
DARP SPV CLEARWATER 2 (TBD)
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)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 75.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 75.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 17, 2019

Disclosed by Bank Jan 17, 2018


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Project Description

According to the bank website, this project consists of an IFC investment, under IFC Distressed Asset Recovery Program (DARP), of up to US$75 million to invest in distressed and special situations assets of companies operating in emerging markets in Asia including China, India, Indonesia, Philippines, Thailand, and Vietnam. For this purpose, IFC will co-invest with a fifth-generation fund formed by Clearwater Capital Partners in a special purpose vehicle dedicated exclusively to such distressed and special situations assets. Clearwater Capital Partners, LLC will manage the assets under the SPV.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

 Clearwater Capital Partners, LLC, is an experienced Asia-dedicated distressed and special situations assets investor. Established in 2001, Clearwater is privately owned and has offices in Mumbai, Chongqing, Seoul, Singapore and Hong Kong, each provide an important local presence that allows for in-house market research and direct engagement with market relationships through the entire region.  Clearwater counts with 15-year strong investment track record through funds dedicated to distressed assets in Asia and as of today, the firm has approximately US$1.3 billion of assets under management.

Contact Information

Project Contact: Rehan Talib
CFO, Clearwater
Office Address: 6 Temasek Boulevard #38-03 Suntec Tower 4 Singapore 038986
Website: http://www.clearwatercapitalpartners.com/index.html

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/