Actera III (IFC-41648)

Countries
  • Turkiye
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
Proposed
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."
Borrower
ACTERA PARTNERS III L.P.
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)
$ 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 Mar 13, 2019

Disclosed by Bank Feb 19, 2019

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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.

According to IFC website, the project consists of an equity investment of up to USD30 million in Actera Partners III L.P., a generalist, closed-end private equity fund domiciled in Jersey. Fund will invest in mid-market growth capital/buyout transactions in Turkey.       

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

Project Outcomes:
- Stakeholder: Access to growth capital for Fund investees: The Fund, while maintaining a generalist strategy, will provide access to much needed long-term equity capital for mid-market companies in Turkey.
- Stakeholder: Increased Investee Growth: IFC expects the Fund to help in knowledge transfer and bring operational value-add to its investees.

Contribution to Market Creation
- Competitiveness: The project is expected to increase PE market activity in Turkey by demonstrating the viability of PE investments given the challenging fundraising environment.
- Integration: (i) Through the capacity building activities of the Fund, the project will help investee companies expand their businesses abroad, promoting greater market integration. (ii) Actera III will expand access to private capital through introducing new institutional investors to Turkey.

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.

Actera Group Limited (“Actera”), a Jersey limited liability company acting as investment adviser to funds focused on investing in Turkey.           


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.

Turker Tekten
CFO, Actera Group 
+90 (216) 516 0100
info@acteragroup.com
Kuleli Cd. No:43A 34684 Cengelkoy, Istanbul - Turkey
http://acteragroup.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