PC Capital Development Fund II L.P. (IFC-42204)

Countries
  • Mexico
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."
Voting Date
Jun 10, 2019
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
PC CAPITAL ASSET MANAGEMENT
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)
$ 20.00 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 May 15, 2024

Disclosed by Bank May 8, 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 the bank, the project entails an IFC equity commitment of up to US$20 million, not to exceed 20% of total commitments, in PC Capital Development Fund II, L.P. (“The Fund”), a 10-year closed-end generalist fund raising $100 million to make growth equity and buyout investments in 6-8 Small and Medium Enterprises (“SMEs”) located in Mexico.

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

The Fund is seeking to raise US$100 million in capital commitments. The proposed IFC equity commitment is up to US$20 million, not to exceed 20% of aggregate capital commitments in the Fund.

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.

According to the IFC, the Fund is managed by PC Capital Asset Management S.A.P.I. de C.V, a Mexico-based limited liability company owned and controlled by three investment professionals who have been working together for between 8-10 years. PC Capital Support S.C. is a civil partnership established under the laws of Mexico which will provide investment advisory services to the Fund pursuant to an investment advisory agreement (the “Investment Advisor”). According to FinDev Canada, PC Capital Development II L.P. (“PC Capital II” or “the Fund”), is a private equity fund which provides growth capital to businesses operating primarily in Mexico. PC Capital II will invest in companies engaged in in the financial services, consumer products and services and sustainable industries.


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.

PC Capital 
Pablo J Cervantes 
Managing Partner 
+52 55 52 51 82 79 
pcervantes@pc-capital.com 
Reforma 2654 piso 8, Chapultepec Morales, 11570, Mexico 
Websitehttps://www.pc-capital.com/capital-privado-mexico/ 

 

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